Alejandro Agag has been appointed Chairman of Formula E Holdings Ltd after the board of the company agreed he should be promoted from his position as CEO.
The company claim the promotion will allow Agag to concentrate on the relationships the all-electric series has with commercial partners, host cities, and the FIA, with a new CEO being appointed to help Agag in his duties.
The change means that current Chairman of Formula E, Simon Freer, will move on.
Speaking about his new role, Agag said it would put him in a better position to help grow the series.
He said, “It’s time to open a new phase in the world’s fastest-growing motorsport. I’m really proud of the job we’ve done, together with the FIA, our management team, shareholders, partners and teams.
“Formula E is in the best moment of its short history. As Chairman, I’ll be better placed to help the new CEO and our strong management team to continue growing the sport that I believe is the future of motor racing.”
Outgoing Chairman, Simon Freer said, “We look forward to continue working with both Alejandro as Chairman and the new CEO to bring Formula E to the next level.”