Thanks to a report by Pitpass' business editor Christian Sylt, it came to light yesterday that David Campbell, managing director of Allsport Management, F1's trackside advertising, sponsorship and corporate hospitality division, has stepped down. It leaves a hole at the top of a key company in the sport and although F1's boss Bernie Ecclestone is more than capable of doing the job himself in addition to his other roles of selling the TV and race rights, CVC, the investment fund which majority owns the sport, may want Campbell replaced.

There is no doubt that Ecclestone is the best man for the job since he oversaw Allsport's operations for 30 years whilst it was run by his long-time business partner Paddy McNally. However, McNally's retirement last year gave CVC the opportunity to appoint someone with a corporate background and Campbell fitted the bill perfectly.

He was seen as F1's first marketing director and some even suggested he would be Ecclestone's successor. Clearly they hadn't read Ecclestone's views on retirement (and for anyone who needs reminding: it isn't on his agenda).

Sylt had a long meeting with Campbell just over a year ago at the O2, the arena in London which was formerly known as the Millennium Dome. Campbell was its boss and turned it from a national laughing stock into the world's most successful music venue. Sylt came away from the meeting hugely impressed with his business acumen and he is clearly a very amiable guy to boot. However, it was impossible for Sylt to convey to Campbell what he was getting himself into.

F1's paddock is fondly known as the Piranha Club and Allsport runs the tank it swims in. There is good reason why F1 has never had a marketing director - with Ecclestone in charge it really doesn't need one. He has literally built modern day F1 and although it has untapped potential (Sylt cannot remember how many times he has suggested to Ecclestone that the sport needs a cartoon, comic and children's toys to attract a more youthful audience) its tremendous scale is all down to one man.

It is no surprise that Michael Payne, who brought huge success to the International Olympic Committee's marketing division, left his role as special advisor to Ecclestone after only a few years. Likewise, Ecclestone dispensed with the need for F1 to have a head of PR after the departure of Red Bull's Norman Howell around 2004. Given the amount of publicity Ecclestone himself gives F1, a PR director is pretty much superfluous. It saves money and also makes Ecclestone CVC's most valuable asset.

Just over two months before Campbell's appointment came to light, Pitpass reported Ecclestone's comments that F1 doesn't need a marketing director and the current situation indicates that his view may well be accurate. However, CVC, which is probably the world's most professional and credible private equity firm, has a logical desire to further institutionalise F1. Soon after it bought into the sport it formed an audit and remuneration committee. Then it appointed advertising mogul Martin Sorrell and Nestle chairman Peter Brabeck-Letmathe as independent non-executive directors. Next it hired Campbell and, as Pitpass revealed last year, it also formed an ethics committee for F1.

So it would seem likely that CVC may want to replace Campbell. CVC has reportedly had contact with former M&S boss Sir Stuart Rose though it was wrongly suggested in the media that he was on the verge of being appointed as F1's chairman. Sylt revealed the truth on Pitpass when Ecclestone told him that CVC co-founder Donald Mackenzie had become chairman of the sport. Rose is undoubtedly corporate but, as Campbell's situation has demonstrated, it requires more than this to stay in the Allsport job.