In September 2017 I stepped down from the Formula One Board of Directors.
The Formula One Board was the second time I had the opportunity to serve on the board of an important, global brand in media. My time on the F1 Board allowed me to be part of the management of a truly global sport, participate in a deal which took the company public, and contribute to the turnaround with Liberty Media.
F1 Founder Bernie Ecclestone is a sharp businessman and tough negotiator who still deals in a strictly old school style. Bernie built F1 from nothing into a global sport that generates billions of dollars in annual revenue. However, by the time I joined the board, several of the company’s business practices had become outdated and the company was in need of rejuvenation.
During 2016 the Board agreed to sell F1 to Liberty Media. I stayed on the Board after the sale and had the opportunity to work with Chase Carey as the sport began a new era. F1 has always been a lean organization, but to become a modern organization Liberty needed to recruit an experienced leadership team and restructure the company from the ground up. Chase is a compelling leader who has helped the company navigate a difficult evolution and emerge stronger, more relevant and better positioned for the future.
I wish Chase and everyone at F1 and Liberty Media the best in the future and look forward to following F1 as a public company.