Formula E seeks chief executive with founder Agag stepping up to chairman
Formula E, the electric motor racing series, is on the hunt for a new chief executive after Alejandro Agag announced plans to transition to the role of chairman.
The decision comes on the eve of season five of Formula E, with Saudi Arabia to stage the first race of the 2018-19 campaign on Saturday.
Agag, a former member of the European parliament, who founded Formula E back in 2012 ahead of its launch two years later, will remain as chief executive until a successor is in place.
Formula E said today that the new chief executive will be "appointed in the coming months" and will free up Agag to "focus on relationships with commercial partners, host cities and the FIA," motor racing's international governing body.
Agag said: “It’s time to open a new phase in the world’s fastest-growing motorsport. I’m really proud of the job we’ve done, together with the FIA, our management team, shareholders, partners and teams. Formula E is in the best moment of its short history. As chairman, I’ll be better placed to help the new chief executive and our strong management team to continue growing the sport that I believe is the future of motor racing.”