Capralos, 59, has taken up the new position following the merger of the NASDAQ-listed Star Bulk and Oceanbulk, creating the largest United States-listed dry bulk company with a value of more than $1 billion (£589 million/€733 million).

It will allow Capralos, a former water polo player who represented Greece in two Olympic Games, at Moscow in 1980 and Los Angeles in 1984, more opportunity to concentrate on his work within the Olympic Movement.

Spyros Capralos (left) hands over the Olympic Torch for Sochi 2014 at Panathenaic Stadium in Athens to Russian Deputy Prime Minister Dmitry Kozak ©Getty Images

Besides being President of the HOC, a role he was first elected to in 2009 and re-elected to last year, he is also a member of the ruling Executive Committee of the European Olympic Committees (EOC).

He is currently heading the EOC's Coordination Commission overseeing preparations for the inaugural European Games in Baku next year, a role which requires him to be in the Azerbaijani capital on a regular basis.

Capralos had previously been Chef de Mission of Greece's team at Atlanta 1996 and was executive director and deputy chief operating officer of the Athens 2004 Organising Committee.

Contact the writer of this story at [email protected]


Related stories
April 2013: Greek implicated in London 2012 ticket scandal named head of Baku 2015 Coordination Commission
February 2013: Hellenic Olympic Committee President implicated in London 2012 ticket scandal re-elected
December 2012: European Olympic Committees on collision course with IOC after they back officials in London 2012 ticket scandal
December 2012: HOC President ruled to have "damaged reputation of Olympic Movement" after London 2012 ticket scandal
June 2012: London 2012 ticket story is untrue and "misleading", claims head of Hellenic Olympic Committee