Outgoing F1 CEO Chase Carey says Liberty Media conducted a "very broad search" to find his successor before former Ferrari man Stefano Domenicali was handed the job.
Domenicali will take over the reins of Formula 1 at the start of next year, with overseeing the transition in his capacity as non-executive chairman.
Carey says that F1's search for a new chef executive focused on an individual capable of building on the foundation previously laid down by Liberty.
"We went through a very broad search, looking at a complete range from A to Z of candidates," Carey said, speaking on
"I came into this as an outsider, and I think there was some value in coming into the sport as an outsider, because I felt it needed significant change and fresh perspectives, a different set of perspectives.
"Going forward now, what we felt was right, we wanted somebody who can maintain the momentum and continue to build on what we think we've put in place to grow the sport.
"One of the important things Stefano brings is a deep knowledge of not just the sport and the competition on-track, but the players in the sport, and therefore I think he can hit the ground running in terms of taking things forward."
Domenicali built his credentials at Ferrari over 20 years, the 55-year-old Italian departing his role as team principal of the Scuderia in 2014, eventually taking on a top executive position with Lamborghini while also heading the FIA's single seater commission.
F1 teams welcomed the appointment of an affluent and respected executive well-versed in Grand Prix racing's affairs.
"Stefano brings a unique personalty to this, somebody that has great respect," Carey said.
"Sometimes I feel that this role you're sitting in the eye of a storm, with a lot of partners circling around. I think he brings a balance, and an even-keeled personality to navigate through what at times can be a very noisy situation.
"I think the combination of unique expertise and experience with a personality that can navigate through the various dynamics that exist make him ideally suited for this."
Carey steered clear of revealing the names of those who were considered as suitable candidates.
"I'm really not going to comment on and don't think it's appropriate to comment on who we considered," said the American. "We only made one offer, and that offer was to Stefano, and we're thrilled to have him in place."