Stefano Domenicali will continue as president and CEO of Formula One Management for a further five years, the commercial rights holder for the Formula 1 championship has announced. The ex-Ferrari F1 team boss has helmed FOM since the start of 2021 and has overseen a period of strong growth in terms of fan interest in the series and improved financial health for its stakeholders – including the teams.

Stefano Domenicali, who has overseen Formula 1's explosive growth on the calendar and popularity in recent years, will stay on as president and chief executive through 2029 through a five-year contract extension,

Stefano Domenicali will remain at the helm of Formula One until at least the end of 2029 after being handed a five-year contract extension by the sport's commercial rights holders Liberty Media. The announcement was made by Formula One on Wednesday ahead of the season-opening Australian Grand Prix in Melbourne this weekend.