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Formula One Owners Decide Not To Force Resignation Of CEO Bernie Ecclestone
Published July 19, 2013
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SURVIVING THE STORM: The BBC's Andrew Benson wrote Ecclestone "has ruled Formula 1 for nearly 40 years with a combination of astuteness, cunning, sharp practice and sheer intellectual power arguably unmatched across business and sporting worlds." Can "he survive?" In the normal business world, the answer would be "no." Any CEO who is the subject of such serious criminal charges "cannot hope to hold on to his position." But this is not the normal business world, "and Ecclestone is most certainly not a normal businessman." Why? Probably "because of his remarkable achievements, his all-pervading influence in F1 and, since the sport began trading as a commodity, his success in making money for his bosses." That last attribute may yet keep him in a job, "as long as he can survive the bribery case in Munich" (BBC, 7/17).