Formula E: Ex-Manchester United Executive Jamie Reigle Announced As New CEO

Electric racing series - Formula E - has announced its new Chief Executive Officer Jamie Reigle, who will be succeeding Alejandro Agag as the founder moves into the new role as the Chairman. Agag had announced during the 2018-19 Formula E season of his decision to step down from the role as CEO after developing the championship from ground up over the last five seasons. Formula E searched extensively for Agag's replacement over the part year and zeroed in on Reigle, who comes from previous successful stints at Manchester United and Los Angeles Rams.

Speaking on his new role, Jamie Reigle said, "I'm delighted and honoured to be charged with leading Formula E through its next phase of development. I've followed the championship from inception and admired the global sports platform Alejandro and his team have created in short order. I'm eager to plug in and work with Alejandro to continue to develop Formula E as the most exciting series in motorsport and a platform for the potential of the future of electric vehicles and sustainable mobility."

Reigle worked for Manchester United for a decade as senior executive, and joined the La Rams NFL team as executive vice president of business operations in 2017. During his time at Man-United, the Canadian served as a member of the Premier League team's board of directors overseeing commercial activity in global markets. He was also responsible for launching the football club's Asia Pacific operations and leading the company's initial public offering on the New York stock exchange.

Reigle will work in collaboration with Agag at Formula E. The latter will be looking after maintaining the existing relationships and agreements with stakeholders, sponsors, teams, manufacturers, FIA and the host cities. Both men will work together for a "smooth and seamless" transition, a statement from Formula E read.

Speaking on having Reigle on board, Alejandro Agag said, "I'd like to take this opportunity to officially welcome Jamie to the Formula E family. Jamie's wealth of experience working in sports properties across North America, Europe and Asia make him the best person for the job. With his addition to our existing executive team, we have an incredibly strong line-up to continue building and developing Formula E through our next growth cycle. I'll be making the transition to chairman and will work in tandem with Jamie to ensure that our vision and plans for the ABB FIA Formula E Championship are fulfilled."

With Reigle taking care of day-to-day operations at Formula E, Agag will more time to develop and nurture his new brainchild - Extreme E electric off-road SUV racing series, which will commence in 2021. The appointment also comes at a time when more mainstream manufacturers are all set to join the electric motorsport championship including Porsche and Mercedes-Benz, while a number of manufacturers are already a part of the sport including Mahindra, Audi, BMW, among others.