Ecclestone steps down from Formula 1 board

Ecclestone steps down from Formula 1 board

16 January 2014 – Bernie Ecclestone will step down as a director of Formula 1's management board with immediate effect, but the 83-year-old is to remain involved in the general running of the sport for the forseeable future.

Earlier on Thursday, German prosecutors announced that Ecclestone will face a court hearing in April relating to allegations that he bribed banker Gerhard Gribkowsky during the sale of Formula 1 back in 2006.

Although current Formula 1 owners CVC Capital Partners have permitted Ecclestone to continue in his day-to-day role, it has been decided that, for the duration of the trial, he will be absent from the board.

A statement issued by Delta Topco Ltd read: "Mr Ecclestone has reassured the board that he is innocent of the charges and intends to vigorously defend the case which will commence in April 2014.

"After discussion with the board, Mr Ecclestone has proposed and the board agreed that until the case has been concluded, he will step down as a director with immediate effect, thereby relinquishing his board duties and responsibilities until the case has been resolved.

"The board believes that it is the best interests of both the F1 business and the sport that Mr Ecclestone should continue to run the business on a day-to-day basis, but subject to increased monitoring and control by the board. Mr Ecclestone has agreed to these arrangements."

Ecclestone's removal from the board means that greater responsibility will be handed to other leading figures.

The statement added: "The approval and signing of significant contracts and other material business arrangements shall now be the responsibility of the Chairman, Mr Peter Brabeck-Letmathe, and the Deputy Chairman, Mr Donald Mackenzie."

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