F1's owner CVC has made three notable appointments to the sport's executive board. After escaping jail in the wake of the Gerhard Gribkowsky scandal, chief executive Bernie Ecclestone has finally resumed his place at the table. "I'm on the board," the 84-year-old confirmed to Forbes' Christian Sylt last week. "It doesn't make any difference to what I do."
A more notable appointment is Paul Walsh, after the former Diageo chief earlier walked away from becoming the new chairman. He has taken on the role of non-executive director, having met Ecclestone last week. "Maybe he'd like to do a few more things," Ecclestone told Bloomberg on Thursday, "but it's difficult to have two captains on the ship. I told him what I wanted."
Perhaps the most surprising announcement, however, is that Luca di Montezemolo has returned to the board for 2015, despite his ousting as Ferrari president. Germany's Sport Bild claims the re-appointment follows a period of behind-the-scenes wrangling, in which his Ferrari successor Sergio Marchionne "prevented" Montezemolo from becoming the new board chairman.
As for Walsh, Times correspondent Kevin Eason wrote: "Whether he is in position to be moved in to replace Ecclestone when the time is right remains to be seen." (GMM)
Well, that’s just peachy. Bernie, the fox, is reinstated as official CEO, in charge of the chickens. And Peter Brabeck Letmathe, the infirmed leader who couldn’t (or hasn’t) managed the fox thus far, remains as titular head of F1 Group. So, the only positive news is the addition of Messrs. Montezemolo and Walsh to the board. But without executive responsibilities, these “chairmen” will be but growling dogs to the excesses of the exuberant fox. A recipe for continued failure of enlightened leadership. I’ve seen better run lemonade stands.
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Well, that’s just peachy. Bernie, the fox, is reinstated as official CEO, in charge of the chickens. And Peter Brabeck Letmathe, the infirmed leader who couldn’t (or hasn’t) managed the fox thus far, remains as titular head of F1 Group. So, the only positive news is the addition of Messrs. Montezemolo and Walsh to the board. But without executive responsibilities, these “chairmen” will be but growling dogs to the excesses of the exuberant fox. A recipe for continued failure of enlightened leadership. I’ve seen better run lemonade stands.