Bernie Ecclestone to step down from Formula One board
London: Bernie Ecclestone will step down as the head of Formula One`s holding company pending the outcome of a bribery trial in Germany, the organisation announced today.
The British businessman is due to stand trial in Munich in April over allegations he bribed former German banker Gerhard Gribkowsky during negotiations concerning the sale of F1 championship rights in 2006.
The 83-year-old magnate has repeatedly denied any wrongdoing and intends to continue to run the sport on "a day-to-day basis".
"Mr Ecclestone has reassured the board that he is innocent of the charges and intends to vigorously defend the case which will commence in late April 2014," read a statement from the F1 holding company, Delta Topco Limited.
"After discussion with the board, Mr Ecclestone has proposed and the board has agreed that until the case has been concluded, he will step down as a director with immediate effect, thereby relinquishing his board duties and responsibilities until the case has been resolved.
"The board believes that it is in the best interests of both the F1 business and the sport that Mr Ecclestone should continue to run the business on a day-to-day basis, but subject to increased monitoring and control by the board. Mr Ecclestone has agreed to these arrangements."
More from India
More from World
More from Sports
More from Entertaiment
- Dr Subhash Chandra Show: Aspiring for more than what you have!
- Mathura SSP receives death threat letter, message for PM Modi
- Reservation issue: Police register case against Bainsla, 20 others
- Zee Media exclusive interview with Haryana CM Manohar Lal Khattar
- Zee Media exclusive chat with 'Welcome to Karachi' cast
- Watch: Fast N Facts @ 7:30pm
- Haridwar: Hotel Radisson Blu sealed for polluting Ganga
- Girl in Punjab's Pathankot quit studies for fear of eve-teasing
- Special: Furious over rising water crisis, people take to the streets
- UP Minister allegedly threatens, abuses Gonda businessman
- Manali: Heavy corruption found in environmental taxes
- Couple in Bihar asked to pay Rs 50,000 as 'tax' for inter-caste marriage
- Aapke Sitare: Astro prediction for May 24, 2015
- Watch: Fast N Facts @ 7:30pm
- One year of Modi govt: How satisfied is the common man?
- IPL 2015 Final: MI vs CSK - As it happened...
- Heatwave continues in North India; death toll in Andhra Pradesh, Telangana more than 400
- 'Tanu Weds Manu Returns' starts on a good note at the Box Office!
- CBSE 12th Result 2015 to be announced on Monday
- IPL 2015 final: Mumbai Indians thrash Chennai Super Kings by 41 runs to lift second title
- Death threat to PM Narendra Modi ahead of Mathura rally sends police into tizzy
- Organisation demands re-examination of AIPMT 2015
- Standoff with LG: Arvind Kejriwal calls emergency session of Delhi Assembly
- Kejriwal completes 100 days in office, AAP says centre 'shadow boxing' over row with LG
- CBSE Class 12th Board Results 2015 to be announced on Monday, May 25
- Online filing of applications for UPSC civil services exam begins
- No alliance with JD-U in Bihar: BJP
- Not just today, Muslims feeling alienated since 1947: Najma Heptulla