Liberty Media Corporation, the owner of the Formula One Group and its subsidiary, Formula 1, has announced changes to its management structure.

Mark D. Carleton has retired as Chief Financial Officer of Liberty, a position he has held since 2016. Carleton becomes a Senior Advisor and will remain focused on several of Liberty’s key portfolio companies.

“Mark’s relationship with Liberty and TCI goes back to 1987 and his efforts as Chief Financial Officer and leading the Corporate Development team have provided great value to the company. I’m pleased that he will continue as a Senior Advisor,” said Greg Maffei, Liberty President and CEO.

Brian Wendling, who has been at Liberty since 1999 and Controller since 2011, has been appointed to the additional role of Principal Financial Officer. Wendling also serves as Chief Financial Officer to Liberty TripAdvisor.

Rich Baer, Liberty’s General Counsel and Chief Legal Officer who has been at Liberty since 2013, will assume the added title of Chief Administrative Officer, with an additional emphasis on recruiting and developing talent across Liberty and our portfolio companies.

Courtnee Chun, who has run Liberty’s investor relations group since 2008, will assume the additional title of Chief Portfolio Officer and continue to be involved with many of Liberty’s companies, including monitoring and enhancing their operating performance.

All will report into Maffei.

For more information, visit libertymedia.com.