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De facto boss Bernie Ecclestone returns to F1 board

The larger-than-life figure of Bernie Ecclestone once again wielded it's power on Thursday. Having successfully negotiated the retirement rumours, the de facto boss of Formula One was re-instated to the board that runs this lucrative sports as a business.

De facto boss Bernie Ecclestone returns to F1 board

New Delhi: The larger-than-life figure of Bernie Ecclestone once again wielded it's power on Thursday. Having successfully negotiated the retirement rumours, the de facto boss of Formula One was re-instated to the board that runs this lucrative sports as a business.

The 84-year-old was forced to step down from the board to allow German prosecutors to conduct a smooth hearing on bribery charges. But it was in everybody's knowledge that the Briton was in complete control of the business.

In August, Ecclestone paid GBP 60m to end the case under the terms of a settlement agreement with prosecutors in Berlin without an assumption of guilt or innocence.

Earlier this month, he had revealed return to the board thus putting a full stop to the lively rumours of having a new F1 boss. In a direct statement, he also said that “I’m happy here as long as the board are happy.”

In this line, the F1 Group which controls the sport also appointed former Ferrari chairman Luca di Montezemolo and businessman Paul Walsh as non-executive directors on the board. Walsh is famously associated with drinks giant Diageo.

With agency inputs

From Zee News

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