The 71-year-old Italian, who became President of the then-called International Sailing Federation in 2012, said he was seeking a second and final four-year term as he has "unfinished business".

Should he be successful, that would take the former Olympic sailor through to the Tokyo Games in 2020.

Croce, who defeated Eric Tulla of Puerto Rico in the 2012 race to replace Sweden's Göran Petersson, is only the seventh President of the organisation since 1946.

Speaking in Lausanne to the World Sailing Council, he said that better governance, Olympic development and the Sailing World Cup would be priorities should he be voted back in.

The return of sailing to the Paralympic programme following its removal for Tokyo 2020 is another key aim.

“It has been an enormous honour to serve as World Sailing President and as a sport we have achieved a great deal over the last four years," said Croce.

"I am particularly proud of our significantly enhanced Emerging Nations Programme, the moves to improve governance, the appointment of a top class CEO in Andy Hunt and the development of a new Sailing World Cup strategy.

"There is real momentum across the organisation.

"Of course we face new challenges and opportunities and I do have a sense of unfinished business.

"I want to ensure that the challenges that lie ahead are sailed safely and that the many significant opportunities to grow our sport, at every level, are secured.

“I want to see through a period of real reform in World Sailing's governance.

"We need to modernise and become much more efficient and effective as a Federation.

"Change is underway and I can help deliver that change over the next four years.

"Part of my job as World Sailing President going forward would be to ensure that we not just meet new governance standards, but exceed them, and become a benchmark for other International Federations.

“In the sport of sailing, we need also to be responsive to the IOC’s Agenda 2020.

"We are in a changing Olympic world and working together, and in full consultation with the sailing family, we must be creative, look at our events on the programme and embrace innovation.

"No sport should stand still.

"Also on Para-sailing, for me returning the sport to the 2024 Paralympic Games is a key priority."

Croce, who sailed at the 1972 and 1976 Olympics, added that an adapted Sailing World Cup had the potential to bring new fans to the sport.

"This should be done in partnership with sponsors and broadcasters and we must be open to the ideas of new host cities," he said.

"We also need to take a look at other opportunities including offshore sailing, which is an important area of our sport and one of real untapped potential.

"If we do this correctly, and build the right consensus, it would be a benefit to the whole of sailing in the years ahead.

"As I look ahead I am encouraged and optimistic as we enter a new era with confidence and a willingness to be creative.

"It is this vision of growth, modernisation and innovation, while respecting our sport's great traditions, that I believe I can deliver if I am honoured to serve as World Sailing President for a second and final term.”

The World Sailing election will be held in November, at the organisation's Annual Conference in Barcelona.

Nobody has yet come forward to challenge Croce.