David Malone Steps Down as V8 Supercars CEO

Malone, who was previously the boss of pay-TV channel Fox Sports for 11 years, was hired in 2012 to primarily negotiate a new TV broadcast contract.

The new two-year deal with the Seven Network wasn’t signed until January and rumoured to be worth less per year than the previous contract.

Seven paid $28 million under a three-year agreement which expired at the end of 2012.

Malone will remain as a director of V8 Supercars to assist with strategy and development.

Finance director Peter Trimble will assume the role of acting CEO.

V8 Supercars said in a statement: “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.”

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.”

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