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Ecclestone steps down from F1 board
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Bernie Ecclestone will keep running Formula One while on trial for bribery despite stepping down from the board of directors.
A Munich state court decided yesterday to send the 83-year-old Ecclestone to trial, which is due to start in April.
The board of F1’s holding company met yesterday, and a statement said it was reassured by Ecclestone that he is “innocent of the charges and intends to vigorously defend the case.”
While Ecclestone has relinquished his board duties, the statement said 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.”
It added: “The approval and signing of significant contracts and other material business arrangements shall now be the responsibility of the Chairman, Peter Brabeck-Letmathe, and Deputy Chairman, Donald Mackenzie.”
The first race of the 2014 Formula One season is in March.
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