Liberty Media has announced Derek Chang as its new President and Chief Executive Officer.
Chang, a veteran media and sports executive, replaces Greg Maffei who left Formula One-owner Liberty Media last year.
Chang has been a director of Liberty Media since March 2021 and will start in his new role on February 1. Liberty Media chairman John Malone will serve as interim CEO until then.
Most recently, Chang was the Executive Chairman of premium sports distributor EverPass Media. He was CEO of NBA China from 2018 to 2020 and previously held various leadership roles at Scripps Network Interactive and DirecTV.
“I am thrilled to welcome Derek as the CEO of Liberty Media. 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,” said John Malone.
“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,” said Derek Chang. “Our current focus is clear: optimizing 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."
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