Chase Carey from Liberty Media has been confirmed as the new replacement for Bernie Ecclestone in the position of Formula 1 CEO.

Bernie now 86, has steered Formula One Group to what the sport is known for today. Liberty Media is on the verge of completing their F1 takeover, these new role changes are just a sign that the process is almost done. Ross Brawn meanwhile gets a position in the sporting department while ex-ESPN Sean Bratches will head commercials.

“I was deposed today, I am simply gone. It’s official. I am no longer the leader of the company. My position has been taken by Chase Carey. My new position is one of those American terms. It’s something like an honorary president. I have this title now, even though I don’t know what it means.” said Bernie.

He expects quieter days in the office and may also lose his position with the FIA World Motor Sport Council. Boss of majority shareholder CVC, Donald McKenzie, had voted to retain Bernie in a more active role but Liberty Media overruled his decision.

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