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Thursday, May 30, 2024

Formulation E CEO Reigle to step down from position

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Reigle was appointed as CEO of the championship in September 2019, changing Formulation E co-founder Alejandro Agag, who moved into the place of chairman.

Reigle joined Formulation E having held government positions at Manchester United and Los Angeles Rams, and through his three-and-a-half-year spell has overseen the expansion of the all-electric championship.

This additionally included making certain the championship stayed afloat throughout the COVID-19 pandemic, in addition to when producers Audi, BMW and Mercedes all left the class within the house of a yr.

His tenure additionally included the addition of latest venues on the calendar, together with Hyderabad, Cape City and Sao Paulo for the 2023 season.

His departure was introduced to Formulation E employees on Tuesday morning, the place he confirmed that he would “stay as an advisor by the top of the yr” and that he’ll assist the soon-to-be-announced new CEO by the approaching months.

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In an inner message, Reigle stated: “After I was provided the chance to steer Formulation E, one in every of my mentors stated that my major goal needs to be to depart the corporate in a greater place than after I began.

Jamie Reigle, CEO of Formulation E, James Rossiter, DS Techeetah growth driver

Photograph by: Sam Bloxham / Motorsport Images

“Easy recommendation, however a excessive bar given the success Formulation E had achieved within the first 5 seasons.

“Our followers, groups, companions, shareholders, board and to me most significantly you, our staff, would be the final choose of how I fared. However I imagine I can confidently say Formulation E is now on agency footing and poised to seize our immense alternative. This fills me with huge satisfaction.

“I look again on the final 4 years and marvel at what we now have achieved collectively.

“Within the face of unprecedented challenges, we redefined our sport, launched a progressive model, attracted iconic groups, opened unimaginable cities and welcomed new companions.

“This yr we’re delivering file race attendances and audiences throughout broadcast and digital, powered by unimaginable racing unlocked by the groundbreaking Gen3 automotive.”

Formulation E will announce Reigle’s substitute in the end.

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