Formula 1
- Formula 1 CEO Stefano Domenicali told BI how he stays calm while running a sports empire.Domenicali said he dedicates time in the morning to working out and stays focused on his values.He said he likes honest feedback from colleagues and relies on his previous leadership experience.
You wouldn't guess the pressure Stefano Domenicali is under by looking at him.
At a press roundtable in New York City on Monday, Formula 1's CEO appeared relaxed in a zipped-up sweatshirt. Fresh off a flight from Montreal and with the premiere of "F1: The Movie" just hours away, the CEO showed no signs of urgency, insisting he didn't have much else going on that day.
"As you can see, I'm a calm person," Domenicali told Business Insider. "I'm not a guy who shouts. I don't believe in the model of shouting."
Running a company is often stressful, but that pressure looks a little different when you're at the helm of a global competitive sports empire. In addition to juggling his usual chaos of international travel and coordinating races that attract hundreds of thousands of fans, F1 CEO Stefano Domenicali is also leading the company through rapid global expansion and gearing up for the release of a major film starring Brad Pitt.
The 2024 F1 season set new records, with many Grands Prix races drawing more than 300,000 fans over race weekends. The sport's global fanbase also expanded to 750 million, with women ages 16 to 24 representing its fastest-growing demographic. The company also grew its social media presence 36% year over year.
Domenicali said there's "no holiday" on the job, and it's normal for him to work around the clock.
The 60-year-old CEO told BI he stays calm despite the demanding schedule.
He said he's able to stay calm primarily because of the support he receives from his wife and kids. He said they are understanding of his work obligations, which gives him the peace of mind to stay focused while on the job.
His work relationships are also key to managing his high-stress position.
Being in a leadership position requires you to surround yourself with the "right people." To Domenicali, that means having people on his team who aren't "yes men." While the CEO wants positivity in his workspace, he said he also wants people to be able to tell him when they disagree.
Domenicali, formerly Lamborghini's CEO and Ferrari's team principal, said he also tries to find balance by reserving time for himself in the mornings when he has a "fresh mind."
"I try to regain my time, you know, very early in the morning, to have a little bit of fitness running from six to seven in the morning," Domenicali said.
He also tries to stay grounded in his values and not let the position get to his head. Domenicali regularly meets with prime ministers, presidents, and business leaders like Apple CEO Tim Cook.
"But I'm a normal guy, so I want to stay like that, and that's my way of thinking," Domenicali said, adding that he acts "the same way if I meet the President or your president, or if I meet my doorman."
While the CEO just extended his contract leading F1 until 2029, he said he will be thankful for the day his phone doesn't ring as often. Until then, his priority is making sure the company is stable enough to handle the growth it's experiencing — and he remains grateful for the opportunity to do so.
"I'm very blessed doing these things because it's a job that I like," Domenicali said.
