Simon Love has been appointed chief executive of the Victoria Racing Club, replacing David Courtney who stepped down last year due to ill-health.

Just last month, Love was appointed to the equivalent position with Perth Racing but VRC chairman Michael Burn said the club asked him to reconsider.

"Before our process had been completed, Simon had accepted an offer for another CEO position, but we are delighted he decided to accept the VRC role when it was offered," Burn said.

Julian Sullivan, who has been the VRC's acting chief executive will stay with the club in a senior executive role until the end of the year.

Love has held the position of executive general manager Corporate, Finance and Strategic Initiatives since 2010 after previous roles at Crown Limited and Tabcorp as well as the financial sector.

He said he looked forward to the challenge.

"Victorian racing faces unique issues with opportunities around media rights and increased competition from interstate and overseas clubs and other forms of entertainment," Love said.

Love takes up the appointment with immediate effect.