Formula One's new executive chairman Chase Carey has called for the sport to move away from its "dictatorship" rule following Bernie Ecclestone's 40-year tenure in charge.
American Carey held talks with a number of leading figures on his debut in the paddock this weekend following Liberty Media's £6.4billion acquisition of the sport from CVC Capital Partners earlier this month.
Ecclestone, who has been accused of ruling the sport with an iron fist, has agreed a new three-year contract to remain as Formula One's chief executive officer - but it is unclear whether the 85-year-old will see out the entirety of that deal.
"You cannot make everybody happy all the time, but you've got to understand what everybody wants and then find a path," Carey told Formula One's official website.
"Sure, that is not a task for a committee, as committees tend to become bureaucratic - but there also can't be a dictatorship - even if probably here they are used to it.
"They need leadership, and leadership means that you create a vision to achieve the right goals for the future.
"Successful businesses are built on successful leadership that understands what every party wants. There have to be compromises."
Carey was flanked by Ecclestone on his first day in the paddock in Singapore on Friday, but later conducted a number of meetings without the Englishman, who turns 86 next month.
Carey added: "Bernie is the CEO, so Bernie is going to lead it and I will work with Bernie to establish some kind of strategic plan to where you want to go.
"With all credit to Bernie, he's had enormous success - the world admires Bernie for the business that he has built - but I still think that there is another level that we can take Formula One to."
Carey also spoke of his desire to expand the sport in his native America, and signalled his intention to stage further races there than the one already on the calender in Austin, Texas.
"We clearly will have a plan to develop America, and to be in the right market," Carey added. "As I said earlier, there is a big untapped audience in the US.
"Formula One is a great premium brand and that means to me that you want to be at a location like Los Angeles, New York or Miami. Ideally in the great cities in the world."
Source: PA
