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Former O2 boss pulls out of F1 leadership race

A senior figure in Formula One (F1) motor racing who was widely tipped to take over from 81-year-old chief executive Bernie Ecclestone has stepped down, i can reveal.

David Campbell, the former boss of London's O2 Arena, quit as managing director of the sport's sponsorship and corporate-hospitality division last week after less than a year in the job. CVC Capital Partners, the private-equity firm that is the majority owner of F1, confirmed that Mr Campbell "has left".

An insider at CVC said: "It didn't really work out. Bernie wanted to take the business in a different way, and that wasn't the basis on which we hired David. His departure was by mutual agreement."

Mr Campbell declined to comment. He joined in March 2011 and split his time between F1 headquarters in London and his office in Geneva.