LAUSANNE, Switzerland — Under investigation for unethical conduct by Olympic boxing’s governing body AIBA, C. K. Wu resigned as its president on Monday and also gave up his seat on the IOC’s executive board.
The International Boxing Association said that Wu “decided to step down” and with the move they agreed to end all legal disputes and disciplinary cases between them.
“Both parties agreed that at this stage there is no indication of any unethical behavior by either party,” AIBA said in a statement.
The International Olympic Committee confirmed Wu also resigned from its 15-member board after five years on the strategy-setting panel.
Wu, who represented Summer Games sports federations on the board, retains the IOC membership he has held for 29 years.
The AIBA president for 11 years, Wu was suspended from duty last month while a complaint lodged by most members of his executive committee was investigated.
AIBA’s executive committee passed a no-confidence vote against the Taiwanese official in July, claiming his leadership was autocratic and failed to give a clear picture of the body’s allegedly troubled finances.
“I step down in the best interests of both AIBA and boxing but I remain committed to ensure a smooth handover to the new leadership,” Wu said in the AIBA statement.
Franco Falcinelli of Italy will remain interim president ahead of a special congress on Jan. 27 in Dubai, United Arab Emirates. He will ask the executive committee to propose the title of honorary present for Wu, AIBA said.