LIBERTY MEDIA CORPORATION has confirmed that John C. Malone will step down as chairman of the board on 1 January 2026, moving into the role of chairman emeritus. Robert R. Bennett, currently vice chairman, will succeed him as chairman.
Bennett has served as vice chairman since January 2025 and has been part of Liberty Media’s board since 1994, including more than 15 years on its executive committee. He previously held the role of president and CEO from 1997 to 2005 and was one of the company’s founding executives in 1991.
Once Malone steps down, the board will comprise eight directors, including five independent members. The executive committee will include Dob Bennett, Derek Chang and Chase Carey.
As of 31 August 2025, Malone beneficially owns approximately 241 thousand shares of Series A Formula One common stock, 2.364 million shares of Series B Formula One common stock and 2.515 million shares of Series C Formula One common stock, representing approximately 49.5% of the voting power of the Formula One common stock, as well as approximately 251 thousand shares of Series A Liberty Live common stock, 2.465 million shares of Series B Liberty Live common stock and 4.314 million shares of Series C Liberty Live common stock, representing approximately 48.9% of the voting power of the Liberty Live common stock, per the media release.
Malone said, “Founding Liberty Media and serving as its Chairman has been among the most rewarding experiences of my professional life. With the successful simplification of our portfolio in recent years and our operating businesses in positions of strength, I believe it is an appropriate time to step back from certain of my obligations, and I am very pleased to have Dob Bennett, my partner and colleague of 35 years, stepping into the Chairman role. Dob has been involved in all key decisions throughout Liberty Media’s history, and I am confident that Liberty is well-positioned for the future. I look forward to remaining actively engaged as a large Liberty shareholder and a strategic advisor to our management and Board.”
Bennett added, “I want to thank John for more than three decades of partnership and mentorship. His legacy as a visionary business leader is without parallel and I am deeply grateful for his confidence. I speak for the entire Board in thanking John for his extraordinary leadership as our Chairman and for his continuing engagement as Chairman Emeritus.”
