Ecclestone replaced as Formula One boss

Liberty said in a statement that Carey had been appointed Chief Executive in addition to his current role as Formula One chairman. Ecclestone was appointed 'Chairman Emeritus' with Liberty saying he would remain "available as a source of advice for the board of F1". "I’m proud of the business that I built over the last 40 years and all that I have achieved with Formula One," Ecclestone said in the statement.