Russian billionaire elected to lead Olympic shooting body

vladimir-lisin

Novolipetsk Steel Chairman, billionaire Vladimir Lisin speaks on a phone before a meeting in the town of Lipetsk, Wednesday, Jan. 20, 2010. Lisin has been elected to lead the Olympic shooting body. (AP Photo/RIA-Novosti, Mikhail Klimentyev, Presidential Press Service)

MUNICH — Russian billionaire Vladimir Lisin has been elected in a close vote to lead shooting’s world governing body, the ISSF.

The ISSF says Lisin won a 148-144 vote over Luciano Rossi of Italy on Friday. Both were ISSF vice-presidents.

Lisin is the shooting body’s first new president in 38 years, succeeding Olegario Vazquez Rana of Mexico.

Forbes lists Lisin, a steel magnate, as Russia’s richest man with an estimated wealth of $19.1 billion. He is a member of the International Olympic Committee marketing committee.

Lisin joins fencing president Alisher Usmanov as wealthy Russian businessmen running Olympic sports federations.

Rossi was a candidate after serving a 20-week ban this year for breaking ISSF ethics rules. The original three-year ban was cut by the Court of Arbitration for Sport.

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