Liberty Media names former NBA man Chang as new CEO

Liberty Media has a new CEO with a strong background in sports and media

Formula 1 owner Liberty Media has named Derek Chang as its new its new president and CEO and replacement for Greg Maffei, who left the role at the end of last month.

Chang will start his new job on February 1, with chairman John Malone holding the role on an interim basis until then.

He has been a director of Liberty since March 2021, and thus already has an understanding of the business, including its F1 interests.

Chang has worked for a variety of media, sports and entertainment companies, and his CV includes spells with EverPass Media, DIRECTV, Scripps, Charter and TCI. He holds an MBA from Stanford University and a bachelor’s degree in history from Yale.

He was the CEO of NBA China from 2018 to 2020, running offices in Shanghai and Beijing, suggesting that he will play a role in increasing F1’s footprint in the country.

“I am thrilled to welcome Derek as the CEO of Liberty Media,” said Malone. “His expertise in both operating and investment roles, extensive understanding of our industries and familiarity with Liberty make him the ideal leader for Liberty’s next chapter.

“Personally, I have worked with Derek for over 25 years and am consistently impressed by his leadership style, breadth of expertise and global perspective. I look forward to supporting him and the Liberty management team as they continue to drive shareholder value.”

Chang said: “I have had the privilege of working with John Malone and the Liberty team for many years during my time at TCI and DIRECTV and later as a board member of Starz and Liberty, and I have long admired their track record of value creation for investors and partners.

“Our current focus is clear: optimising the portfolio structure with the split-off of Liberty Live and supporting the growth of our attractive operating assets, including F1 and MotoGP post-acquisition, to continue their momentum and invest for the future.

“Looking further, Liberty has always been long-term minded in its investment mandate yet nimble to move quickly on new opportunities. Both of these things will remain true in our strategy going forward.”