This has resulted in losses when input cost was higher and profits when raw material prices were lower.
Thomas Bach said that he is willing to run for a second term as President of the International Olympic Committee (IOC). Bach said at the IOC Session on Thursday that he is ready to run for a second term in office and his announcement was followed by unanimous praise from the rest of the IOC members, thus increasing the likelihood of him winning the election next year with little to no opposition.
“If you, the IOC members want, I am ready to run for a second term as IOC President, and to continue to serve you and this Olympic Movement which we all love so much,” Bach said in the session that was the first to be held virtually due to the coronavirus pandemic.
The session was streamed live on the IOC’s Youtube channel.
Bach was elected to the position on September 10, 2013 at the 125th IOC Session. He succeeded Jacques Rogge at the session that was held in Buenos Aires, Argentina.
He made the announcement during his opening speech at the IOC Session. Before that, he said that several members had asked him about his plans for the elections.
“In the last couple of weeks a number of you have approached me with regards to the presidential elections next year. I am grateful and deeply touched by all the many words of encouragement and confidence. I wanted to give this answer to all of you at the same time with the same words,” said the German.