Walsh in pole position for F1 job

PAUL WALSH

CHADDERTON’S Paul Walsh is thought to be in talks to become the next chairman of Formula One (F1) motor racing.

Mr Walsh (57) is the former chief executive of drinks giant Diageo.

An announcement is expected to be made this week, with the former Royton and Crompton School pupil being one of a few candidates being considered to replace current chairman Peter Brabeck-Letmathe, who is stepping down.

CVC Capital Partners, the private equity group which owns 35.5 per cent of F1, is rumoured to be eyeing up Walsh to take on some executive duties, as well as chairing the F1 board.

A trained accountant, Mr Walsh, who studied at Oldham College, worked at GrandMet and InterContinental Hotels before becoming chief executive of Diageo, which owns brands such as Johnnie Walker and Guinness, in 2000 before retiring this year.