Sebastian Coe has been elected chairman of the Diamond League AG ©IAAF

Sebastian Coe has officially replaced the disgraced Lamine Diack as chairman of the Diamond League AG, the company which owns and operates the International Association of Athletics Federations (IAAF) Diamond League, it has been announced.

The Briton, chosen to replace Diack as President of the IAAF in August, was unanimously elected by the General Assembly.

He will be joined on the Board by Italy's Anna Riccardi, a member of the IAAF Council. 

The Diamond League AG is composed of representatives of the IAAF and the 14 meeting organisations whose competitions make up the calendar of the Diamond League, athletics’ top tier invitational circuit.

The Board is composed of six persons, three members represent the meetings and three represent the IAAF.

Coe becomes chairman of the Board.

Diack had chaired the Board since the League was launched in 2009. 

The 82-year-old Senegalese is currently under investigation by the French prosecutor for allegedly took payments for deferring sanctions against Russian athletes who had failed drugs tests. 

The Diamond League is the International Association of Athletics Federations' flagship competition featuring 14 meetings around the world ©Getty Images
The Diamond League is the International Association of Athletics Federations' flagship competition featuring 14 meetings around the world ©Getty Images

A third IAAF Board member will be proposed to the General Assembly ahead of its next meeting and full Board elections in March 2016.

The three current representatives of the meetings on the Board are Switzerland's Patrick Magyar, Belgium's Wilfried Meert and Monaco's Jean-Pierre Schoebel.

During the meeting the General Assembly also agreed proposals to establish workshops to discuss the future development and format of the series.

This process is part of a wider strategic study of athletics’ competition structure which will involve three newly formed Special Advisory Groups: One-Day Meetings, Competition Calendar and World Athletics Series Renovation.

"The IAAF Diamond League annually provides athletics with a prominent global shop window," said Coe. 

"The 14 meeting series which runs from May to September offers fans the best international athletics competition outside the IAAF World Championships and the Olympic Games.

"I am really looking forward to reviewing this top product with the meeting organisers who are our close partners in this series.

"Together we intend to take this popular invitational tour to the next level of sporting excellence and entertainment.”

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