Fekete is due to stand down from the position on October 15 for “personal reasons”, with Mihók being promoted from chief strategy advisor within the Bid Committee.

Mihók was most recently chief executive of Mediaworks Hungary, the country's largest publishing house, and previously worked for Swiss media company Ringier for 15 years.

He has been described as “very experienced” by Budapest 2024.

Mihók is expected to work closely with bid chairman Balázs Fürjes.

The new chief executive will take over from Fekete, who worked as a partner of auditing giants PwC for 24 years before taking up a role with Budapest 2024, just over a week after the deadline for submission of the second Candidature Files to the International Olympic Committee (IOC) on October 7.

"I would like to pay tribute to Miklos for the exceptional contribution that he has made to the Budapest bid," Fürjes said.

"Few see and recognise the hard work and effort that goes into bringing a company and bid into existence; Miklos takes great credit and we wish him well for the future.

"I would like to offer a very warm welcome to Attila Mihók, who brings tremendous leadership experience to the role.

"I know that he will also bring that same passion, energy and focus to his new responsibilities as he brought to his earlier international career."

Budapest 2024 have also released a video to celebrate the achievement of Hungarian athletes at the recent Paralympic Games in Rio de Janeiro.

A welcoming ceremony was held for Hungarian competitors in the capital city last weekend to mark their performance, where they returned from the Brazilian city with a total of 18 medals.

Tamas Toth clinched the country's only gold medal, winning the men’s 100 metres backstroke SB9 swimming event.

Paralympic medallists also received unique cartoon portraits as a gift created by Budapest 2024.

Budapest is competing against Los Angeles, Paris and Rome, whose bid could be axed later this week following confirmation that Mayor Virginia Raggi would not support it, for the right to stage the 2024 Olympics and Paralympics.

The IOC is due to elect its chosen host city at the 130^th Session in Lima on September 13 next year.