Liberty Media named Derek Chang as its new CEO. Chang will start as CEO on Feb. 1, with John Malone serving as interim CEO in the meantime.

Formula 1 owner Liberty Media has appointed a new president and chief executive officer following Greg Maffei's departure last year. Derek Chang, an executive specialising in media sports and entertainment, will take on the role from 1 February.

Formula One owner Liberty Media appointed longtime sports executive Derek Chang as its next CEO on Wednesday. Chang will officially take over on Feb. 1 and will lead Liberty's three-man executive board that will work with F1 CEO Stefano Domenicali.