Ecclestone gets job back, Di Montezemolo gets a job too!

Just in case you hadn’t had enough Bernie Ecclestone news, it appears that CVC Capital Partners has re-appointed him to his position on the board of Formula 1’s management group. But wait! That’s not all…

Former Ferrari president Luca di Montezemolo has also been handed a position similar to the one he held as a non-executive director of the Formula One Group from 2012 to 2014. Luca was ousted as Ferrari president earlier this year by new Fiat CEO, Sergio Marchionne.

Ecclestone had stepped down from his role earlier this year due to his court battle in Germany over bribery charges relating to the sale of F1 back in 2006. The charges were dropped and Ecclestone agreed a $100million fine.

CVC Capital Partners says that Ecclestone will resume his function as Group CEO. There were some rumors that former Diageo CEO, Paul Walsh, would be appointed to the role as a way of moving Ecclestone out but CVC says that Walsh has now been appointed as a non-executive director.


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