Formula E CEO Jamie Reigle to resign from current position - replacement unclear
Since 2019, Jamie Reigle has been in charge of Formula E. The Canadian led the electric racing series through the coronavirus pandemic, among other things, and oversaw the technical transition from the championships' Gen2 to Gen3 cars. However, as multiple media outlets consistently report, the electric series plans to replace Reigle by the end of the current season.
In what can only be described as a political earthquake for Formula E, Chief Executive Officer Jamie Reigle is to hand over the management of the championship after the end of the 2023 season, at the latest. As first reported by specialst news outlet 'The Race', a "transitional phase" is currently being planned, at the end of which Reigle will hand over his post to another person from the Liberty Global group, which holds a majority stake in Formula E. Formula E staff reportedly learned of Reigle's departure on Tuesday morning.
In an internal message quoted by 'Autosport,' the former Formula E boss explained, "When I was offered the opportunity to lead Formula E, one of my mentors said that my primary objective should be to leave the company in a better place than when I started. Simple advice, but a high bar given the success Formula E had achieved in the first five seasons."
"You'll be the judge how I fared" - Reigle bids farewell to staff
"Our fans, teams, partners, shareholders, board and most importantly you, our employees, will ultimately judge how I fared," Reigle continued. "But I believe I can confidently say Formula E is now on firm footing and poised to capture our immense opportunity. This fills me with enormous pride. I look back on the last four years and marvel at what we have achieved together. In the face of unprecedented challenges, we redefined our sport, launched a progressive brand, attracted iconic teams, opened incredible cities and welcomed new partners."
Reigle took over the executive position in September 2019 from Spaniard Alejandro Agag, who founded the series a few years earlier and continues to serve as its Chariman. Before that, Reigle was the executive vice president of business relations for an American football team and commercial director at Manchester United's Asian business.
Successor still unknown - first names circulating
During his Formula E tenure, the Canadian managed the impact of the coronavirus pandemic, the exits of the manufacturers Audi, BMW and Mercedes as well as the launch of the Gen3 car. He has often faced setbacks - despite agreements with new venues - regarding contracts with cities: Plans for a Vancouver E-Prix in his native Canada burst spectacularly in the summer of 2022. And it also seems unrealistic that the envisaged long-term deal with Seoul will bear fruit after just one staging of the race.
An inquiry made on Tuesday by 'e-Formula.news' regarding Reigle's future in Formula E initially remained unanswered. It is also unclear who could succeed the businessman. According to 'The Race', the names of Jeff Dodds and Andrea Salvato are currently said to be circulating: Dodds was previously Chief Operating Officer of British telecommunications company Virgin Media O2, but recently announced his resignation via the professional network LinkedIn.
New Formula E boss as early as June?
"About a year ago, I had a chat with the business about wanting to take on a new challenge," Dodds wrote. "I'm really excited that I'll shortly be starting as the new CEO somewhere else. Sadly, I'm not able to announce where yet, but as soon as I'm able to do so, I will."
Just like Dodds, Salvato is also part of the Virgin Media O2 board. The company is owned by Telefonica and Liberty Global - hence the connection to Formula E. Salvato is also a member of the board of the electric series.
New lineup also for Extreme E
Another personnel reshuffle was announced Tuesday by Extreme E. In the off-road championship, which hosted the Hydro X Prix in Scotland last weekend, Briton Ali Russell will act as Managing Director in the future. Until now, Russell was the series' chief marketing officer. Henceforth, he will "assume broader responsibilities," according to a press release from the series, "directing all aspects of the series structure, including the management of commercial, operational, logistical and shareholder matters."
The extent to which the Extreme E revamp is related to changes in its sister series Formula E - if at all - is not clear. Formula E will announce the name of its new boss "in due course," 'Autosport' reports.