Lamborghini CEO Domenicali steps down to become Formula One boss

Lamborghini CEO Stefano Domenicali is leaving the Volkswagen Group supercar brand to join Formula One as CEO.

Domenicali will assume the role in January 2021, F1s owners, Liberty Media, said in a news release on Friday.

Chase Carey, F1’s current chairman and CEO, will become non-executive chairman.

Domenicali will also be F1 president with Carey, who led the revamping of the race series following the 2017 ouster of former supremo Bernie Ecclestone.

Domenicali ran Ferrari’s F1 team from 2008-14. His appointment puts Formula One’s three top jobs in the hands of former bosses of Ferrari’s race team. Jean Todt, whose term expires next year, is FIA president while former technical director Ross Brawn is F1’s managing director for motorsport.

In a separate release, Lamborghini said Domenicali guided the brand through a crucial transformation after he became CEO in 2016, with the introduction of the Urus SUV, more than 700 new hires, a doubling of global sales and a significant growth of brand awareness.

Lamborghini did not name Domenicali’s successor.

VW Group said last October that it has no plans for a sale or an initial public offering of Lamborghini, after Bloomberg reported that it was considering shedding the brand.

Reuters contributed to this report

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