David Malone to head V8 Supercars

V8 Supercars (V8SA) has announced the appointment of David Malone as its new Chief Executive, a role he will start at the beginning of 2012.

Malone is a highly-credentialed senior sports executive with extensive relationships in the Australian and international media communities.

Until June of this year he was Chief Executive of Premier Media Group (PMG), Australia's leading producer and broadcaster of sports content, a role he held for 11 years. Under Malone's leadership, PMG grew from a single sports channel into a multi-platform sports content business encompassing 10 channels (including the Fox Sports Australia channels) and employing more than 450 staff.

Before joining PMG he was Chief Executive of the Australian subscription television advertising representational business, MultiChannel Network. His earlier career included line management roles with the Nine Network and Australian Consolidated Press.

Announcing the appointment, V8SA Chairman Tony Cochrane stated "the board of V8SA is delighted to have secured David as the organisation's new CEO.

"David brings a unique and highly valuable mix of senior media sector management experience and technical skills, spanning operations, finance, sales and marketing, and negotiation of media rights agreements.

"His background and relationships will be invaluable as V8 Supercars advances its strategic development plan."

Malone added "I am excited to be joining the highly successful V8 Supercars organisation. The team have built an extraordinary sporting franchise over the past 15 years and I am committed to delivering on the numerous growth opportunities that the business now has."

Cochrane also acknowledged V8SA Chief Operating Officer Shane Howard, who had been performing the role of acting Chief Executive since September, Cochrane adding "Shane has provided continuity and direction to the team at an exceptionally busy time.

"On behalf of the board I would like to thank him for stepping in while continuing to perform his many responsibilities as COO."

Since May this year V8 Supercars has been approximately 60% owned by Australian Motor Racing Partners Pty Limited (AMRP) and approximately 40% owned by TEGA, the body representing the teams.

For more information go to www.v8supercars.com.au

19th May 2011 - INVESTMENT FIRM BUYS MAJOR SHARE OF V8 SUPERCARS AUSTRALIA