Ross Brawn is back in the business of Formula 1, accepting the role of managing director, motorsports at the Formula One Group.
Brawn's nomination follows the departure of CEO Bernie Ecclestone yesterday, and months of consulting work done by the former F1 engineer and strategist.
The 62-year-old Brit will answer directly to Formula One Group CEO Chase Carey and will be joined at the helm by former ESPN executive Sean Bratches who has been named managing director, commercial operations.
"It's fantastic to be returning to the world of Formula 1," Brawn said.
"I've enjoyed consulting with Liberty Media these last few months and I'm looking forward to working with Chase [Carey], Sean [Bratches] and the rest of the Formula 1 team to help the evolution of the sport.
"We have an almost unprecedented opportunity to work together with the teams and promoters for a better F1 for them and, most importantly, for the fans."
Chairman and CEO Chase Carey reminded everyone of the impressive credential of the man who collected 19 world titles while working for Williams, Benetton, Ferrari and for his own outfit, Brawn GP, which he later sold to Mercedes.
"I am delighted to welcome Ross back to Formula 1," said Carey.
"In his 40 years in the sport, he's brought his magic touch to every team with which he has worked, has almost unparalleled technical knowledge, experience and relationships, and I have already benefited greatly from his advice and expertise."
Carey also had a mention for Sean Bratches who will take over part of Ecclestone's responsibilities.
"Sean was a driving force in building ESPN into one of the world's leading sports franchises. His expertise and experience in sales, marketing, digital media, and distribution will be invaluable as we grow Formula 1."
Interestingly, or perhaps wisely, Carey has kept on board two of Ecclestone's closest allies: CFO Duncan Llowarch and general counsel, Sacha Woodward Hill.
Ecclestone himself has received the perpetual status of F1 Chairman emeritus.
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