It was mid-November that Liberty Media announced the departure of its President and CEO, Greg Maffei. The American company, owner of Formula 1, announced this Thursday, January 9, its replacement in the person of Derek Chang.
In its press release, Liberty Media states that “Mr. Chang is a seasoned executive in the global media, sports and entertainment industries. » Administrator of Liberty Media since March 2021, Derek Chang previously worked at EverPass Media or at the NBA from 2018 to 2020 where his mission was to extend the reach of the North American basketball championship to China.
« I am delighted to welcome Derek as CEO of Liberty Media. His operational and investment expertise, deep knowledge of our sectors and knowledge of Liberty make him the ideal leader for Liberty’s next chapter. said John Malone, president of Liberty Media. “ Personally, I have worked with Derek for over 25 years and am constantly impressed by his leadership style, expertise and global perspective. I look forward to supporting him and the Liberty management team as they continue to create shareholder value.” »
« I had the privilege of working with John Malone and the Liberty team for many years while at TCI and DIRECTV, then as a board member at Starz and Liberty, and have long admired their experience in creating value for investors and partners ” said Derek Chang. “ Our current focus is clear: optimize the portfolio structure with the demerger of Liberty Live and support the growth of our attractive operating assets, including F1 and MotoGP post-acquisition, to continue their momentum and invest for the future . Longer term, Liberty has always had a long-term view in its investment mandate, while being agile to quickly seize new opportunities. Both of these will remain true in our strategy going forward. »
-Derek Chang holds an MBA (Master of Business Administration) from Stanford University and a BA in history from Yale University. He will take up his new role at the head of Liberty Media on February 1.
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