17/12/2014
NEWS STORY
Paul Walsh, seen by some as a potential successor to Bernie Ecclestone, is understood to have ruled himself out of such a move.
The current chairman of Delta Topco, essentially F1's parent company, Peter Brabeck-Letmathe, is stepping down following treatment for an (unspecified) "curable illness", and in recent weeks the focus has been on Walsh, former head of drinks group Diageo, and, according to many the man best suited to guide the sport through the troubled waters it is currently encountering.
It was in his role as chairman that many believed Walsh, with his no-nonsense approach, would stand up to, and in time replace, Ecclestone.
However, it is understood Walsh has ruled himself out of the move, though he has yet to reveal why.
The chairman serves on two committees which would decide on Bernie's successor. They are the nomination committee and the remuneration committee. The role of the nomination committee is to "review and recommend candidates for appointments to the Board" whilst the remuneration committee has to "review succession plans for Senior Management executive positions."
The new chairman would take over both of these responsibilities so, contrary to reports elsewhere, it is unlikely that he would be a successor to Ecclestone as it is his job to select the candidates and not to put himself forward as one.
Despite building speculation that Walsh would finally bring Ecclestone's reign to an end, it is believed the move wasn't even discussed at a meeting of the Delta Topco board earlier this week.
Indeed, speaking to journalists in London last week, Ecclestone suggested that (F1 lawyer) Sacha Woodward-Hill would make a good successor.