V8 Supercars Chairman Tony Cochrane says that Mark Skaife’s decision to retire from driving is the right call for the sport.

Skaife officially announced today that he will step down from all V8 Supercars competition, taking on the role as the chairman of the newly-formed V8 commission.

CLICK HERE for Speedcafe.com’s story yesterday.

Cochrane was pleased that Skaife has decided to take the reins of the sporting and technical direction of V8s.

“I know exactly how hard this decision has been for Mark and how much thought he has put into making the right call,” Cochrane said.

“Mark is a man who always makes the right decision. I believe this is fantastic for him and even better for the sport to have a man of his great experience in our business plan for at least next two years.

“It is also sad that he won’t be in the drivers’ seat for the time being while he is in this role. There are few people if any that have put their heart and soul into V8 Supercars like Mark.”

Skaife admits that he will be able to apply himself better to his off-track work without dedicating himself to the endurance races.

“I can do that better if I’m not distracted by driving in two big events each year,” Skaife said.

“I am going to apply myself as much as I ever have in my life to make sure we are making decisions that are vital to the structure of the business.”