Walker retires as Aust F1 chairman

Ron Walker has hit the brakes and his long-time deputy, John Harnden, is now in pole position as chair of the Australian Grand Prix Corporation.

Mr Walker is retiring after 23 years in the role and Victorian Premier Daniel Andrews has praised his major contribution to the state.

"Ron Walker has ensured the Formula 1 Australian Grand Prix is amongst the most successful events in the sporting world," Mr Andrews said on Saturday.