Ecclestone steps down from F1 board
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E-mail Xinhua, January 16, 2014
Bernie Ecclestone has stepped down from the board of F1 following confirmation he is to face trial in Germany later this year.
A statement from holding company Delta Topco Limited said, "After discussion with the Board, Mr. Ecclestone has proposed and the Board has agreed that until the case has been concluded, he will step down as a director with immediate effect, thereby relinquishing his board duties and responsibilities until the case has been resolved.
"It is in the best interests of both the F1 business and the sport that Mr. Ecclestone should continue to run the business on a day to day basis, but subject to increased monitoring and control by the Board. Mr. Ecclestone has agreed to these arrangements."
Ecclestone was charged last July in relation to a 44 million dollars (32 million euro) payment he made to former German banker Gerhard Gribkowsky which was linked to the sale of the Formula One championship rights in 2006.
Last June, Gribkowsky was sentenced to eight and a half years in jail in Munich. Ecclestone has always denied bribing the German, claiming he was blackmailed by Gribkowsky.
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