The International Olympic Committee (IOC) has accepted the resignation of its current president, Thomas Bach, who submitted his resignation to the executive committee this week. The decision will come into effect on June 23, when the transfer of powers to the new head of the organization will take place, RIA Novosti reports.

Bach has served as IOC President since 2013 and was re-elected for a second four-year term in 2021. Back in August 2024, the German official announced that he would not run for another term. His connection with the IOC began much earlier - in 1991, he was elected as a member of the committee, and in 1996 he joined the organization's executive committee.

The election of a new IOC president is scheduled for March 20 during the 144th session of the organization, which will be held in Greece.

Seven candidates are vying for the high post, including: President of the Jordanian Olympic Committee Faisal bin Hussein, head of the International Gymnastics Federation Morinari Watanabe of Japan, President of the World Athletics Association Sebastian Coe of Great Britain, head of the French Olympic Committee and the International Cycling Union David Lappartient, two-time Olympic swimming champion from Zimbabwe Kirsty Coventry, head of the International Ski and Snowboard Federation Johan Eliasch of Sweden, as well as IOC Vice-President Juan Antonio Samaranch Jr. of Spain.