David Malone has confirmed that he will be vacating the role as V8 Supercars Chief Executive.
The departure of Malone from the CEO role effectively means V8 Supercars are rudderless at the very top of its administration.
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A statement released by V8 Supercars states that Malone will remain as a director of V8 Supercars to assist the business with its strategy.
The statement read: “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.”
Andrew Gray, a director of the sport’s majority shareholder Archer Capital 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.
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“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.”
Team owner and V8 Supercars director Brad Jones said: “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.”
V8 Supercars says it will not make further comment on Malone’s exit.
