David Malone has today announced that he will be stepping down as CEO of V8 Supercars.
Mr Malone has been CEO of V8 Supercars since January 2012 and will remain a Director of V8 Supercars, assisting the business with its strategy and development. The Board is undertaking the search for a new CEO in the coming weeks. In the interim, Director of Finance and Systems Peter Trimble will assume the role of Acting CEO.
David has made a strong contribution to the business over the past year.
Director of AMRP, the majority investor in V8 Supercars, Mr Andrew Gray, said: "We would like to thank David for his tireless contribution to the business over the last 14 months, and are pleased that he has agreed to continue to assist us in his new capacity. We continue to be totally committed to the sport and are thrilled that David has agreed to continue to advise and assist us in the execution of our growth plans."
Director of V8 Supercars and Managing Director of Brad Jones Racing, Mr Brad Jones, added: "David has made a strong contribution to the business over the past year, and has successfully overseen the transition to the new Car of the Future racing platform, which has provided great racing so far this season."
Mr Malone and V8 Supercars prefer not to make further comment. V8 Supercars will keep media informed during the process of appointing a new CEO.