Renee L. Wilm most likely to replace Maffei and head up Formula 1?

Until the end of this year, Maffei will serve as President and CEO of Liberty Media Corporation, which owns media and entertainment businesses including its subsidiary Formula 1.

Speculation is brewing that 46-year-old American Wilm, currently Chief Legal Officer and Chief Administrative Officer of Liberty Media, will be promoted to President and CEO, to whom F1 President and CEO Stefano Domenicali will report.

Wilm also serves as CEO of the Las Vegas Grand Prix, Inc which is Formula 1's big bucks project in Sin City, and her CV on the Liberty Media website is impressive:

"Renee L. Wilm serves as Chief Legal Officer and Chief Administrative Officer of Liberty Media Corporation, Qurate Retail, Inc., Liberty TripAdvisor Holdings, Inc. and Liberty Broadband Corporation. Wilm is responsible for managing legal matters, providing strategic support across departments and supervising the day-to-day operations of our parent companies.

"Wilm also serves as Chief Executive Officer of Las Vegas Grand Prix, Inc., a wholly owned subsidiary of Liberty Media and Formula 1 which is the promoter entity for the Formula 1 race on the legendary Las Vegas Strip. She is responsible for overseeing all commercial and operational matters relating to the execution of the race.

"Previously, Wilm was a Senior Partner with the law firm Baker Botts L.L.P., where she represented Liberty and its predecessors for over twenty years, specializing in mergers and acquisitions, complex capital structures and shareholder arrangements, as well as securities offerings and matters of corporate governance and securities law compliance. At Baker Botts, Wilm was a member of the Executive Committee, the East Coast Corporate Department Chair and Partner-in-Charge of the New York office.

"Wilm holds a Bachelor of Business Administration with High Honors in Finance from Hofstra University and a Juris Doctorate degree from St. John’s University School of Law, where she graduated summa cum laude and served as the Executive Articles Editor of the St. John’s Law Review. Wilm serves on the Board of Advisors for the Fashion, Arts, Media & Entertainment Law Center at Cardozo Law School."

Time will tell if Wilm will indeed be promoted. Until then Liberty Media’s Chairman, Malone, will assume the role of interim CEO and will work closely with the Liberty Media executive team and the Board of Directors to ensure a seamless transition.

Maffei will step down from the positions at the end of the 2024 F1 season, at the expiration of his contract at year-end and will serve as a Senior Advisor effective January 1st to support the management transition.

Malone said of the road ahead: "I am acutely focused on rationalizing the structural discounts at Liberty Media and growing our attractive, cash-generative businesses. We have built a fantastic company with high-quality assets in media, communications, sports and entertainment.

"I look forward to working with our executive team to uncover new opportunities for shareholder value creation," added 83-year-old Malone, whose fortune is listed at $10.8-billion by Forbes.