Liberty Media announce major change in leadership as F1 Group impact revealed
John Malone of Liberty Media has stood down from his role as chairman.
Liberty Media has announced that its long-time chairman John C. Malone will step down from his position at the end of this year.
84-year-old John Malone will transition into the role of chairman emeritus at the conclusion of 2025, with his role being taken over by Robert Bennett.
John Malone steps down as Liberty Media chairman
Having established his Liberty Media Corporation in 1991, Malone is to step down from his role as chairman to become chairman emeritus, an honourary title which recognises an individual’s contributions to a company without necessarily holding any formal authority or operational responsibilities.
Malone founded his corporation, calling upon his experiences working with corporate entities such as AT&T, Jerrold Electronics, and General Instrument Corporation, which quickly became an international media powerhouse.
He has also been on the board of directors for companies such as Expedia, Warner Bros. Discovery, and Lionsgate, and has been chairman of Liberty Global and, formerly, for DirecTV Group.
Having overseen the growth of Liberty Media into a global media behemoth, which includes the ownership of Formula 1 and MotoGP, he will transition into his new role on January 1st, 2026.
“Founding Liberty Media and serving as its Chairman has been among the most rewarding experiences of my professional life,” said Malone in a statement issued by Liberty Media on Wednesday.
“With our portfolio now simplified and our businesses in strong positions, I believe it’s an appropriate time to step back from some of my obligations. I’m very pleased to have Dob Bennett, my partner and colleague of 35 years, stepping into the Chairman role.”
Malone added that he will remain actively engaged with Liberty Media as a major shareholder and strategic advisor to its various entities, which includes the Formula One Group as a subsidiary.
As of August 31, 2025, Malone’s stock ownership represents approximately 49.5 percent of the voting power of the Formula 1 common stock, as well as 48.9 percent of the voting power of the Liberty Live common stock.
Liberty Media has turned to internal succession, with Bennett being a director in the company since 1994, and having become vice-chairman in January 2025. He paid tribute to Malone’s leadership over their three decades working together.
“John’s legacy as a visionary business leader is without parallel,” Bennett said.
“I speak for the entire Board in thanking him for his extraordinary leadership and his continuing engagement as Chairman Emeritus.”
Liberty Media president and CEO Derek Chang, who succeeded Greg Maffei in 2024, expressed confidence in the company’s future direction under Bennett.
“We look forward to continuing to benefit from John’s partnership as a strategic voice and advisor as we pursue long-term value creation and focus on sustained growth,” Chang said.
Bennett played an instrumental role in Liberty Media’s acquisition of Formula 1 in 2017, and has previously served as president of Liberty Media between 1997 and 2005. He has been in attendance at several recent Grands Prix, accompanying Chang, in order to ensure a seamless transition with F1 CEO Stefano Domenicali, who will form an executive group with Bennett, Chang, and Carey.
Following Malone’s transition, Liberty Media’s board will be made up of eight directors, five of whom will be independent.
The executive committe will include Bennett, Chang, and Chase Carey, Formula 1’s former CEO and current board member.
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