Brabeck to be Formula One chairman?

Peter Brabeck, the chairman of Nestle, is reported to being lined up to become the chairman of Formula One if the planned flotation goes ahead in Singapore this summer. He is already a member of the board of Delta Topco Limited, the holding company of the Formula One group.

He became CEO of Nestle in 1997 and chairman in 2005. He stepped down as CEO in 2008 but remains chairman. He is also a board member of Credit Suisse, L’Oreal and ExxonMobil. The appointment would clearly be designed to allay fears about the succession to Bernie Ecclestone, although he would remain as CEO of Formula One, without an obvious successor in that position.

Brabeck is 67, Ecclestone 81. Joe Saward