V8 Supercars names new CEO.

V8 Supercars Australia has formally announced Cameron Levick as the organisation's new chief executive officer, replacing the retiring Wayne Cattach as the boss of the touring car series.

Levick was chosen ahead of more then 60 global applicants as the right person to take the helm from October 1 this year. He joins V8 Supercars Australia from his recent post as a senior executive with Vodafone and has also spent time during his distinguished career with premium international drinks company Diageo.

"Cameron was the outstanding candidate amongst a tremendously impressive field of applicants from both Australia and internationally," V8 Supercars Australia chairman Tony Cochrane said. "The board was overwhelming in the decision to choose Cameron from a final short-list of ten people. He is an incredibly focussed individual, a very strong leader and compelling person.

"This is great day for the sport to be led by a young man with such vast talent and vision."

Levick will now be charged with leading the sport in the crucial areas of cost containment, the introduction of ethanol and significant format changes to the category in 2009, debut of the Townsville 400 next July and the ongoing growth of the sport in Australia and internationally.

"The sport is in a fantastic position with an incredibly strong heritage," he said. "I plan to listen to as many stakeholders as I can about the sport. They include fans, the media, teams, drivers, V8 Supercar staff, sponsors, manufacturers and the other motorsport categories.

"There are some very challenging questions that need strong consideration. I want to make conversations happen quickly and ensure they focus on the right subjects in order to get the answers that will add weight to the growth of the sport.

"The challenges are about sustainability and relevance for the next decade. These areas include and are not limited to the environment, cost, team viability, television audience and crowds."

Outgoing CEO Cattach said he was confident that he was handing over control with the series in rude health, although he was quick to point out that it wasn't all his own doing.

"I'm enormously satisfied, the record speaks for itself, but it was a team effort, no individual could stand up and take credit for it all," he said. "Today we have almost 50 full-time employees, a number that swells to around 300 including contractors at our larger events such as Bathurst.

"The sport is incredibly healthy and well equipped to handle the challenges it will face. Its something we can all be very, very proud of."