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F1 News & Discussions => General F1 Discussion => Topic started by: lkjohnson1950 on January 20, 2015, 12:30:41 AM

Title: Who's really in Charge?
Post by: lkjohnson1950 on January 20, 2015, 12:30:41 AM

Diageo CEO Walsh has walked away from the job of being Bernie's successor. If F1's major shareholder wants him why is he gone? The ownership of CVC has always seemed to me to be rather murky, does Bernie own a big chunk via proxy? He seems to have veto power over all decisions of the board.

http://www.worldcarfans.com/114121786019/ecclestone-threat-ends-as-walsh-walks-away (http://www.worldcarfans.com/114121786019/ecclestone-threat-ends-as-walsh-walks-away)

Title: Re: Who's really in Charge?
Post by: Scott on January 20, 2015, 09:15:35 AM

No kidding...he's obviously not just a CVC employee (doesn't this kind of thing make them look bad?).

Title: Re: Who's really in Charge?
Post by: cosworth151 on January 20, 2015, 12:25:04 PM

Looks like Bernie has any even tighter hold on F1 than many of us thought. Too bad. I can't blame Walsh for walking away. No point in being chairman if Bernie still has the real power.

It would have been a convenient consolidation of expenditures for me. Most of my disposable income that doesn't go to F1 goes to Diageo. They make Myers's Jamaican dark rum.  :good:

Title: Re: Who's really in Charge?
Post by: John S on January 20, 2015, 08:14:02 PM

Bernie's successor has to be acceptable to the team bosses, F1 is quite a fragile business in a lot of respects and to keep their huge money making machine on track CVC need them onside.

For all his failings Mr E can keep most of them in line most of the time - not I might add just by money or threats, but because they have mutual respect. Also a few have grown very rich by putting their trust in Bernie

Whilst Walsh may have looked good to the business world and CVC the whole F1 mega money machine is based on quite a different model to most industries or corporations.

I don't expect anyone ever to confirm a chorus of disapproval about this from some team bosses, however Bernie's real power comes from his skill in marshalling whoever and whatever is necessary to get his deals, or dastardly deeds, done. ;)   

   

Title: Re: Who's really in Charge?
Post by: Alianora La Canta on January 20, 2015, 09:09:30 PM

F1 is more of a mess than an outsider might appreciate. It may take a few tries before someone skilful enough and brave enough to sort out the mess is found.

In this case, I don't think any conspiracy about Bernie power is needed. The current state of F1, and how little of it is communicated to non-F1 types, suffices for explanation.