V8 Supercars boss Tony Cochrane has announced his retirement from the job at the end of the 2012 season.
Cochrane has been executive chairman of, and the driving force behind, V8 Supercars since its inception in 1996.
"After my formal retirement as executive chairman, I will continue as an external senior advisor to the V8 Supercar board and will do all I can to ensure that this great championship continues to flourish.
Cochrane has spent 16 years at the helm of Australia's premium motorsport category and one of Australia's major sports.
"There is never a perfect time to step down, however the sport is in tremendous shape, has an unbelievable future and we have delivered on a number of key initiatives, including the confirmation of two new marquees entering the sport - delivering new events in Texas and New Zealand and the upcoming 50th year of Bathurst, which is set to be a milestone event for our sport.
"I am very proud of my V8 Supercar legacy and my involvement in Australian motorsport."
- © Fairfax NZ News