The 56-year-old double 1500 metres Olympic champion, who gained huge plaudits as the London 2012 chairman, succeeds Colin Moynihan after standing unopposed for the role and he will now serve a four-year term.

"Following the tremendous impact of the London 2012 Games, the BOA has an important role to play in ensuring the growth of the Olympic Movement throughout the UK and the continued success and support of Team GB at future Olympic Games," Coe (pictured top) said at a press conference here.

"I believe the BOA is uniquely positioned to work collaboratively with partners across government and sport to ensure there is a meaningful legacy resulting from the London 2012 Games – a legacy that positively impacts every level of sport and continues to inspire young people around the UK to choose sport.

"I am committed to making sure the benefits of hosting the Olympic and Paralympic Games are maximised and this role gives me an excellent platform to continue to serve and promote British Olympic sport, both in the UK, and globally."

The role is another major boost for Coe, and it is likely to increase his chances of becoming an International Olympic Committee (IOC) member in the near future.

He is also vice-president of the International Association of Athletics Federations (IAAF) and the Olympics Legacy Ambassador to the Government, having been appointed to the position by the Prime Minister David Cameron.

Meanwhile, he will continue as London 2012 chairman until the summer of next year when the Organising Committee's final Board meeting takes place.

Moynihan, who steps down after seven years as BOA chairman, offered Coe his congratulations.

"I am delighted that Seb will be my successor as Chair of the BOA," he said.

"He is absolutely the right person, at this important time, to drive the organisation forward and strive to ensure the sports legacy of the London 2012 Games is fully delivered by the various stakeholders.

"Seb has been a good friend and colleague since we first competed together in the Moscow 1980 Olympic Games and his leadership offers the organisation the chance to continue to go from strength to strength."


IOC President Jacques Rogge has also sent his glowing endorsement.

"I congratulate the BOA for picking a winner," he said.

"We all know about Seb's sporting excellence and now thanks to the London Games we all know what a great leader he was of a hugely successful Games.

"He will no doubt bring that success and experience to the BOA and at the same time continue to ensure that the sporting legacy from London 2012 continues into the future.

"He follows Colin who worked tirelessly to ensure British sport and British sportsmen and women got the support and recognition that helped make London 2012 a great British success story."