Taylor is well-known for her years of service alongside multiple Australia Rally Champion Neal Bates, and as team manager of Toyota's factory-backed Aussie rallying programme.
She is also experienced in broad roles, having spent 12 years working with the National Heavy Vehicle Register and as a non-executive director at the NRMA.
“For me, motorsport has been a passion pretty much my whole life and has seen me involved in the sport for the past 40 years,” Taylor said.
“I’ve competed at a national level, as well as some international experience, so I want to be able to give back to the sport so we can succeed going forward and make motorsport the best we possibly can.
“I think it’s important at the board table to have the experience of someone who has competed at the highest level, to bring some understanding of how that works, how a team works, what it’s like working with sponsors and manufacturers and trying to keep their involvement in the sport while at the same time looking for new opportunities.”
Taylor is the fourth woman to join the Motorsport Australia board, while her daughter Molly Taylor, an Australian Rally Champion in her own right, will sit on the Australian Rally Commission as part of the governing body's new Commission structure.
“Australia-wide, company-wide, no matter what sort of board you are talking about it’s very important to have that gender diversity to strategically drive the business," added Taylor.
"We all have different viewpoints so to bring all those viewpoints together and work with integrity is what is going to make a good board."
Incoming Motorsport Australia president Andrew Fraser welcomed Taylor to the board.
Coral is a household name in Australian motorsport and a very accomplished and experienced director," Fraser said.
“I know Coral brings very valuable experience at both the competitor, team and manufacturer level of motorsport as well as governance experience and business insight," he said.
"She is an outstanding addition to the board and we are extremely pleased to welcome her as our newest director."
Taylor will begin as an appointed director on January 1.