“The addition of these three highly regarded investors to our share register
is validation of this success, and we look forward to working with our new
partners over the coming years.
“CVC will continue to be Formula One’s largest and controlling shareholder.”
It was also reported by Sky Sports News that Jean-Marc Huet, the chief financial
officer of Unilever, is to join the new-look Formula One board as an
independent non-executive director.
Unilever, the global consumer goods maker, entered the sport this year as a
sponsor, with its Rexona and Clear brands appearing on the Lotus cars.
Two Singaporean nationals – Liew Mun Leong, the president and chief executive
of CapitaLand, one of Asia’s biggest real estate companies; and Kwa Chong
Seng, deputy chairman of Temasek Holdings, one of Singapore’s principal
government investment funds – will also join the board in accordance with
the city-state’s listing rules.
Three teams – Ferrari, McLaren and Red Bull – have so far been offered seats
on the board as inducements to sign the new Concorde Agreement.
F1 chief executive Bernie Ecclestone, who would also sit on any board, has so
far refused to offer a seat to Mercedes, which has resulted in a tense
stand-off with the Brackley team’s parent company.
Peter Brabeck-Letmathe, the chairman of Nestle and an existing F1 director,
has reportedly agreed to chair the company when it floats.