Brisbane 2032 President Andrew Liveris has vowed to ensure the Games are financially responsible ©Getty Images

Newly appointed Brisbane 2032 President Andrew Liveris has vowed to ensure the Olympic and Paralympic Games do not become a burden for the public.

The former Dow chairman and chief executive was confirmed as Brisbane 2032 President last week.

His appointment followed the confirmation of the full Brisbane 2032 Board.

Liveris told the Australian Financial Review that he was "staking his reputation" by accepting the role and vowed to ensure the Games are fiscally responsible.

"It cannot be a burden to the citizens of the state or city or country," Liveris said.

"I will work hard to deliver what is expected of us, that’s my assignment.

"With my new Olympics assignment, I love the alignment, which is to make Brisbane a global city built from the ground up on systems of entrepreneurship.

"Australia is not a farm, hotel or quarry, and the Olympics will give us an opportunity to showcase Brisbane."

Liveris, the chairman of Lucid Motors and BlackRock Long Term Private Capital, will seek to lead the Organising Committee in the 10-year build-up to the Games.

Liveris is said to be known to the International Olympic Committee (IOC) and familiar with the Olympic Movement owing to his former role at Dow, a chemicals giant.

Liveris spent 42 years at Dow, culminating in a 15-year spell as chairman and chief executive.

Dow was a TOP sponsor from 2010 until the conclusion of the Tokyo 2020 Olympic cycle.

Brisbane was awarded the 2032 Olympic and Paralympic Games last year ©Getty Images
Brisbane was awarded the 2032 Olympic and Paralympic Games last year ©Getty Images

The Brisbane 2032 Board is due to meet for the first time later this month.

The Organising Committee Board consists of 21 members.

Australian Olympic Committee (AOC) President John Coates, Queensland Premier Annastacia Palaszczuk, Paralympics Australia President Jock O’Callaghan, Brisbane Lord Mayor Adrian Schrinner and national Minister for Sport Richard Colbeck were named vice-presidents last week.

Robyn Smith, an International Paralympic Committee Governing Board member, AOC chief executive Matt Carroll, Redland City Mayor Karen Williams, the Prime Minister's special envoy for the 2032 Olympics and Paralympics Ted O'Brien, Deputy Premier of Queensland Steven Miles and Paralympics Australia director Rebecca Frizelle are all Board members.

Bronte Barratt represents Olympic athletes on the panel and Kurt Fearnley is the Paralympic equivalent.

Swimming Australia President Tracy Stockwell joins fellow Olympians Natalie Cook and Patrick Johnson on the Board.

Liveris was included on the Board as one of five independent directors.

Olympic rower Rob Scott, Reconciliation Australia co-chair Shelley Reys, University of Queensland associate professor of marketing and law Sarah Kelly and ePharmacy founder Brett Clark were also named as independent directors.

Brisbane was confirmed as the 2032 Games host at the IOC Session in Tokyo on July 21 last year.

It was the sole candidate presented to the Session, having already been approved by the IOC Executive Board.

It is the first time that Olympic hosting rights have been awarded under the new system, whereby a traditional bid race has been replaced by the IOC Future Host Commission identifying and proposing hosts to the Executive Board.

Australia has staged the Olympics twice before, in Melbourne in 1956 and Sydney in 2000.