Derek Chang has been named the president and CEO of Liberty Media, the parent company of Formula 1.

Chang, a director of Liberty Media since March 2021, is a veteran executive across the global media, sports and entertainment industries. He has led operating, corporate development and investment teams at prominent companies during various stages of growth including EverPass Media, the NBA, DIRECTV, Scripps, Charter and TCI.

Chang will start in his new role on February 1. John Malone, chairman of Liberty Media, will serve as interim CEO until that time. Chang will join the executive committee of the Liberty Media Board with John Malone, Vice Chairman Dob Bennett and Chase Carey. Additionally, Stefano Domenicali, president and CEO of Formula 1, will report to a committee of the Liberty Media board comprised of Bennett, Carey and Chang.

For more information, visit libertymedia.com.