Liberty Media Company immediately introduced that Derek Chang will develop into its new President and CEO, efficient February 1, 2025. Till then, John Malone, Chairman of Liberty Media, will function interim CEO.
Mr. Chang brings a wealth of expertise as a veteran govt within the international media, sports activities, and leisure industries. Over his distinguished profession, he has led operational, company improvement, and funding groups at distinguished organizations, together with EverPass Media, the NBA, DIRECTV, Scripps Networks Interactive, Constitution Communications, and TCI Communications. Since becoming a member of the Liberty Media Board in March 2021, Mr. Chang has gained a deep understanding of the corporate’s working companies and company historical past.
“I’m thrilled to welcome Derek because the CEO of Liberty Media. His experience in each working and funding roles, intensive understanding of our industries, and familiarity with Liberty make him the perfect chief for Liberty’s subsequent chapter,” mentioned John Malone, Liberty Media Chairman. “Personally, I’ve labored with Derek for over 25 years and am constantly impressed by his management model, breadth of experience, and international perspective. I sit up for supporting him and the Liberty administration workforce as they proceed to drive shareholder worth.”
Mr. Chang expressed enthusiasm for the position, stating, “I’ve had the privilege of working with John Malone and the Liberty workforce for a few years throughout my time at TCI and DIRECTV, and later as a board member of Starz and Liberty. I’ve lengthy admired their monitor document of worth creation for buyers and companions. Our present focus is obvious: optimizing the portfolio construction with the split-off of Liberty Reside and supporting the expansion of our engaging working belongings, together with F1 and MotoGP post-acquisition, to proceed their momentum and make investments for the long run. Trying additional, Liberty has at all times been long-term-minded in its funding mandate but nimble to maneuver rapidly on new alternatives. Each of this stuff will stay true in our technique going ahead.”
Mr. Chang will be a part of the Liberty Media Board’s Govt Committee alongside John Malone, Vice Chairman Dob Bennett, and Chase Carey in his new position. Stefano Domenicali, President & CEO of Formulation 1, will report back to a committee comprising Mr. Bennett, Mr. Carey, and Mr. Chang.
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Most not too long ago, Mr. Chang served as Govt Chairman of EverPass Media, a three way partnership he co-founded with Alex Kaplan in partnership with the NFL and RedBird Capital Companions. The enterprise later secured an funding from TKO to create a brand new platform for distributing premium sports activities content material to industrial institutions. Mr. Chang will step down as Govt Chairman however stay on the Board of EverPass Media as he transitions to his new position at Liberty Media.
From 2018 to 2020, Derek Chang was the CEO of NBA China, the place he expanded the league’s presence because the main overseas sports activities entity within the area, overseeing a employees of 200 throughout places of work in Beijing, Shanghai, Taipei, and Hong Kong. Earlier than that, he held varied management roles at Scripps Networks Interactive, together with Head of Worldwide Way of life Channels, working from Singapore and London. Earlier in his profession, he spent seven years at DIRECTV as EVP of Content material Technique and Growth, overseeing content material acquisition and manufacturing.
At Constitution Communications, Derek Chang served as EVP of Finance & Technique and Interim Co-CFO, managing investor relations and company strategic actions. He has additionally held senior roles with the YES Community and TCI Communications. Mr. Chang’s instructional background contains an MBA from Stanford College and a bachelor’s diploma in historical past from Yale College.
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His accolades embrace being named one in every of Cablefax Journal’s “High 100 Executives in Cable” and one of many “50 Most Influential Individuals in Sports activities Enterprise” by SportsBusiness Journal. Mr. Chang is a member of the Committee of 100 (“C100”), a distinguished Chinese language American group, and serves on the Advisory Board of Row New York.
Along with his appointment, Liberty Media alerts its dedication to leveraging Mr. Chang’s huge experience and management to information the corporate into its subsequent section of progress and innovation.
