By Tom Degun at the Windsor Atlântica Hotel in Rio de Janeiro

Sebastian Coe at Laureus Awards Ri de Janeiro March 10 2013March 10 - British Olympic Association (BOA) chairman Sebastian Coe has revealed here today that the organisation may not appoint a new chief executive following the departure of Andy Hunt.

Hunt stepped down as BOA chief executive last month after five years in the position "to move on to another leadership role" having served as Chef de Mission for Team GB at London 2012 where they finished third on the medal table with 65 medals, 29 of which were gold.

Following Hunt's departure, the BOA announced they would not appoint an interim chief executive, with Coe working with the organisation's management team to help them move forward.

And Coe now says that there may be no chief executive appointed at all.

"We are looking at all sorts of things," Coe said here on the eve of the 2013 Laureus World Sports Awards, which are due to take place tomorrow.

"We have got a very good management team at the BOA that is doing an extremely good job and working extremely well.

"I will report back to the Board when I think I have figured it out really.

"All the judgements are a little way down the road."

Andy Hunt BOAAndy Hunt, who stepped down as BOA chief executive last month, may not be replaced

Since Coe has come in, there have been a number of high profile departures at the BOA following the exit of Hunt and the organisation's chief commercial officer Hugh Chambers but Coe insisted that cuts have to be made to reduce the deficit following London 2012

The BOA revealed last October that it fell back into the red in its year to December 31 2011, reporting a £421,000 ($653,000/€488,000) loss on revenue of £10.69 million ($16.57 million/€12.38 million).

London 2012 is required to pay five per cent of any surplus to the BOA, with the amount payable capped at $8 million (£5 million/€6 million), meaning it is likely to bounce back into profit when the Organising Committee declares a surplus when its final accounts are filed in June.

"Clearly I have two very obvious objectives at the BOA," Coe said.

"We need to take fragility out of the balance sheet because it is important for an organisation to have that certainty of revenue and cost under control.

"It is also important that we do that in a way that allows us to be a world class organisation in the delivery of teams for Sochi next year and for Rio here in three years' time."

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