LOS ANGELES (CelebrityAccess) — Liberty Media Corporation announced the appointment of Derek Chang to the roles of President and Chief Executive Officer.
“I am thrilled to welcome Derek as the CEO of Liberty Media. His expertise in both operating and investment roles, extensive understanding of our industries and familiarity with Liberty make him the ideal leader for Liberty’s next chapter,” said John Malone, Liberty Media Chairman. “Personally, I have worked with Derek for over 25 years and am consistently impressed by his leadership style, breadth of expertise and global perspective. I look forward to supporting him and the Liberty management team as they continue to drive shareholder value.”
Mr. Chang will officially begin his new role at Liberty on February 1st with the company’s Chairman, John Malone, serving as interim CEO during the remainder of January. In addition to his duties as President and CEO, Chang will also join the Executive Committee of the Liberty Media Board with John Malone, Vice Chairman Dob Bennett and Chase Carey.
Before joining Liberty, Chang served as the Executive Chairman of EverPass Media, a joint venture he cofounded with Alex Kaplan in partnership with the NFL and RedBird Capital Partners, with a later investment from TKO. After joining Liberty, he will step down from his executive Chairman role but will remain on EverPass Media’s board.
He also previously served as EO of NBA China from 2018 to 2020 and spearheading the league’s efforts to expand in region, oveseeing a staff of 200 based in the NBA’s Beijing, Shanghai, Taipei and Hong Kong offices.
“I have had the privilege of working with John Malone and the Liberty team for many years during my time at TCI and DIRECTV and later as a board member of Starz and Liberty, and I have long admired their track record of value creation for investors and partners,” said Derek Chang. “Our current focus is clear: optimizing the portfolio structure with the split-off of Liberty Live and supporting the growth of our attractive operating assets, including F1 and MotoGP post-acquisition, to continue their momentum and invest for the future. Looking further, Liberty has always been long-term minded in its investment mandate yet nimble to move quickly on new opportunities. Both of these things will remain true in our strategy going forward.”