Former Ferrari boss Luca di Montezemlo has been appointed to the board of the F1 Group, main shareholder CVC has announced.
Meanwhile Bernie Ecclestone has been reappointed to the board after stepping down earlier this year during his legal dramas. He will continue as CEO having seemingly survived a difficult year with his power intact.
Montezemolo was previously on the board in his role as chairman of Ferrari, but now has a position of non-executive director in his own right.
Montezemolo is joined in a similar capacity by Paul Walsh, the former CEO of Diageo, owners of the Johnny Walker brand. Walsh, who is also a director of FedEx and Unilever, has been tipped as a replacement for Ecclestone. The appointments of both Walsh and Montezemolo commence on January 1.