Further to the approval by the AIBA Extraordinary Congress of the inclusion of the AIBA Professional Boxing (APB) in the AIBA Statutes, the international consulting company KPMG was hired to develop a master business plan for both AIBA and AIBA's exclusive Marketing Company (BMA). In addition, following the Statutes, the APB Executive Board was formed with eight initial members.
Chaired by Dr Ching-Kuo Wu, AIBA President, the APB Executive Board includes Dr Abdellah Bessalem (Algeria), Mr Bekzhan Bektenov (Kazakhstan), Mr Osvaldo Bisbal (Argentina), Mr Luiz Boselli (Brazil), Mr Franco Falcinelli (Italy), Dr Humbert Furgoni (France) and Dr Tom Virgets (USA). Mr David Francis (Wales), as AIBA Treasurer and Mr Ho Kim, as AIBA Executive Director, are non-voting members.
On Wednesday 21 March 2012 at the AIBA Headquarters in Lausanne (Switzerland), the APB Executive Board received a final presentation of the AIBA and BMA business plan and approved it unanimously. This business plan will now need to be ratified by the AIBA Executive Committee in July.
The plan includes the new AIBA administration and management embracing three major programs, AOB (AIBA Olympic Boxing), WSB (World Series of Boxing) and APB (AIBA Professional Boxing). It also includes the business plan for the AIBA Marketing Company, BMA (Boxing Marketing Arm). This BMA business plan will certainly be further enhanced by the company once it is registered independently.
The APB Executive Board approved the projections of the competition structure, the marketing plans, the organisational structure, the P/L projections and timelines. In addition, the Board also approved to register BMA in Switzerland and to locate its HQ Offices in Lausanne.
In regard to the running on these three AIBA programs, it was decided to integrate all administrative work in one umbrella organisation which will oversee all AOB, WSB and APB programs from the existing AIBA HQ Offices. With this expansion, AIBA will be hiring additional staff.
In a letter sent to all 194 AIBA National Federations, AIBA President, Dr Ching-Kuo Wu stated: "I would like to sincerely express my appreciation for your confidence and support on all new initiatives and efforts made to enhance the sport of boxing and our organization for the betterment of all boxers".
The APB Executive Board will next meet on 7-8 July 2012 in Bangkok, Thailand, around the AIBA Executive Committee meeting.
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