20/01/2020
NEWS STORY
Formula 1 has announced that Sean Bratches will step down from his role as Managing Director of Commercial Operations following three years at the organisation.
He will leave Formula 1 at the end of January, but will continue to support the business in an advisory role from the United States.
Bratches joined Formula 1 when Liberty Media bought the sport in January 2017, with, according to FOM's press release; "a clear remit to establish a world class commercial group; a function that previously did not exist under its previous owners".
"Over the past three years Sean has built and led a team that has transformed the commercial business from a predominantly motor sport company to a leading global media and entertainment brand," read the release. " As part of the transformation he has established a world-class management team and structure that will continue to serve the sport and its fans well into the future.
"During his tenure Formula 1 has broadened its sponsor portfolio, improved the reach and scope of the sport's global media rights, renewed key race promotion agreements and announced two new races to the Formula 1 calendar. Formula 1's digital business was revamped under his leadership launching a new responsive web platform and extending the brand into areas such as direct to consumer, fantasy, podcasting, licensing and betting. All key metrics including race attendance, television viewership, and digital and social media engagement and usage have increased during his tenure.
"In addition he has created and overseen many brand and fan facing initiatives including the renowned Netflix series "Drive to Survive," the hosting of live car runs in major city centres around the world, established Formula 1's highly successful Esports series as well as introduced innovative events such as the "Extreme Innovation Series" in collaboration with M.I.T.
After three years in the role, Bratches has decided to return to the United States to be closer to his family and begin his next chapter.
Following his departure, the majority of his direct reports will report into Chase Carey, Chairman and CEO of Formula 1, which indicates that FOM will not be seeking a replacement, this at a time the sport has lost a significant sponsor in terms of Tata.
"I want to thank Sean on behalf of everyone at Formula 1 for the leadership, passion and expertise he has given to the business over the past three years," said Carey. "Sean has transformed the commercial side of Formula 1 and a testament to his work is shown in our momentum and growth as a business. I am pleased Sean will continue to be an advisor for us from his home in the US, he will always be part of the Formula 1 family and I look forward to his ongoing advice and counsel. I wish him all the best in his new endeavours."
"The past three years at Formula 1 have been an incredible journey," added Bratches, "one which I have enjoyed thoroughly. I want to personally thank the team at F1 for their extraordinary efforts and dedication, they are the best of the best and I am confident they will continue to serve fans and deliver on the strategy we have set in the years ahead. I am proud that I leave Formula 1 in a better position than when I joined in 2017 and I know that the foundation we have put in place as a team will continue to serve our fans around the world and reach new audiences."