Derek Chang has been appointed president and chief executive officer of the Liberty Media Organization.
Chang has been a director of Liberty Media since March 2021 and has led leadership roles at companies including EverPass Media, the NBA, DirecTV, Scripps, Charter and TCI. He takes over from Greg Maffei, who announced he would step down from the role at the end of 2024.
Chang will start in his new role on Feb. 1, 2025, with John Malone, chairman of Liberty Media, serving as interim CEO until then.
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“I am thrilled to welcome Derek as the CEO of Liberty Media. His expertise in both operating and investment roles, extensive understanding of our industries and familiarity with Liberty make him the ideal leader for Liberty’s next chapter,” said John Malone, Liberty Media Chairman. “Personally, I have worked with Derek for over 25 years and am consistently impressed by his leadership style, breadth of expertise and global perspective. I look forward to supporting him and the Liberty management team as they continue to drive shareholder value.”
Most recently, Chang was the executive chairman of EverPass Media, a joint venture he cofounded with Alex Kaplan in partnership with the NFL and RedBird Capital Partners. He will step down as executive chairman but remain on the board of EverPass Media as he moves over to Liberty Media.
He was the CEO of NBA China from 2018 to 2020 and help various leadership roles at Scripps Network Interactive from 2013 to 2018, including head of international lifestyle channels.Before that, Chang was EVP of content strategy and development at DIRECTV and EVP of finance & strategy and interim co-CFO at Charter Communications.
He holds an MBA from Stanford University and a bachelor’s degree in history from Yale University.
Chang will join the executive committee of the Liberty Media Board with Malone, Vice Chairman Dob Bennett and Chase Carey. Additionally, Stefano Domenicali, president & CEO of Formula 1, will report to a committee of the Liberty Media board that is comprised of Bennett, Carey and Chang.
“I have had the privilege of working with John Malone and the Liberty team for many years during my time at TCI and DIRECTV and later as a board member of Starz and Liberty, and I have long admired their track record of value creation for investors and partners,” Chang said. “Our current focus is clear: optimizing the portfolio structure with the split-off of Liberty Live and supporting the growth of our attractive operating assets, including F1 and MotoGP post-acquisition, to continue their momentum and invest for the future. Looking further, Liberty has always been long-term minded in its investment mandate yet nimble to move quickly on new opportunities. Both of these things will remain true in our strategy going forward.”
