The Italian Franco Falcinelli was elected today as interim president of the International Boxing Association (AIBA), replacing the previous head, the Taiwanese Wu Ching-Kuo, suspended for violating a series of statutes of the organization.
In an election held by the AIBA executive committee in Lausanne, Falcinelli received 15 out of 17 possible votes. In this way, the Italian will take over from the suspended Wu and will remain as interim president for the extraordinary Congress that the association will hold in Dubai from November 11 to 13.
AIBA adopted such a drastic resolution because Wu made important financial decisions without the consent of the association’s executive committee. These decisions caused AIBA to incur debts of $ 15 million, leaving the federation on the brink of bankruptcy.
Wu “has so far refused to deliver the financial and audit reports to the executive committee,” AIBA reported when it reported its suspension.