London, Oct 27(ANI): Formula One boss Bernie Ecclestone has said he is no rush to step down from his position, which he has occupied for around 17 years, and hinted that he might continue for up to three years more.
“Eventually I’m going to go, one way or another. But as long as I feel I can deliver, and the shareholders are happy for that to happen, I will stay. When I can’t I’ll give them plenty of notice,” the BBC quoted Ecclestone, as saying.
The stability, which Ecclestone’s continued leadership would provide, could prompt greater interest in the IPO.
But the IPO prospectus mentioned that recruitment experts would be employed to identify Ecclestone’s eventual successor, implying his reign may be drawing to a close.
Although the flotation was delayed by weak market conditions, Ecclestone hopes it will take place in 2013, and insists stepping aside is not on the agenda.
“When we decided we’re going to get an IPO, the obvious thing was ‘well, what’s going to happen about Bernie?’” Ecclestone said.
“So we put in the prospectus that we’re going to find a head-hunter to try and find someone. That was a couple of years ago. But as long as I feel I can deliver – and they’re happy for that to happen – I will stay,” he added.
“I will tell CVC [F1 owners] exactly if I’m going to turn it in when I’m 85 or something like that, which will give them plenty of notice,” he said. (ANI)