Bernie Ecclestone has revealed that Ferrari has the option to veto a decision on his successor as Formula One boss. The 83-year-old Briton has owned Formula One commercial rights since 1978, and in recent weeks has revealed that he wants his current job to be taken over by current Red Bull boss Christian Horner.
In an interview with CNN, Ecclestone revealed that Horner would not be supported by CVC anyway, while Ferrari would oppose the choice.
The key to this is hidden in the business plan of the currently stopped stock exchange flotation of Formula One shares. “Before appointing a new boss, we need to get Ferrari’s written permission if the candidate has held an executive position for the past five years or has co-owned at least a five per cent stake in any Formula One team, or a car manufacturer that supplies engines to any team, or owns more than five percent of the shares of any of the teams, ”the plan reads.
Ferrari president Luca di Montezemolo is a member of the committee that oversees the nomination and nomination of candidates to CVC's executive committee.
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