Howard, who has held the CEO role since January 2022, will take on a newly-created role within RACE known as Director – Motorsport.

According to the announcement, that new role will “focus on driving the strategic evolution of Supercars, including leading engagement with key motorsport bodies and OEMs, overseeing Toyota’s integration into the championship in 2026, and supporting international expansion initiatives”.

It will also include a director position on the RACE Board.

Supercars has already commenced its search for a new CEO, with Howard to continue in the role until a replacement has been secured.

“The demands of motorsport continue to grow, requiring an increasing level of focus and strategic direction to ensure the continued success of Supercars,” said Howard.

“After more than three years as CEO, I believe now is the right time to transition into a role that allows me to concentrate on the sporting and technical side of the business, which has always been a great passion of mine.

“I’m extremely proud of what we’ve accomplished in recent years and remain deeply committed to the future of Supercars.

“I’m excited to continue contributing in my new role and I look forward to working alongside the business and the Board to evolve the sport and deliver long-term success for its stakeholders.”

RACE chairman Barclay Nettlefold said: “Shane’s contribution to Supercars as CEO has been outstanding, and his expertise will remain invaluable as we continue to grow the sport.

“We thank him for his leadership as CEO and look forward to his continued impact in this new capacity.”

COO Tim Watsford had long been seen as the logical successor to Howard, before announcing late last month that he is leaving Supercars for the CEO role at the St George Illawarra NRL club.

That leaves Supercars with two key executive positions needing to be filled.