Image: Lord Moynihan has chaired the BOA since 2005

British Olympic Association (BOA) chair Lord Colin Moynihan has revealed his intention to step down from the post following the conclusion of the London 2012 Olympic Games.

Lord Moynihan, a former sports minister under Margaret Thatcher and an Olympic rowing silver medallist at the 1980 Moscow Games, has chaired the organisation since 2005.

However, he has now confirmed his intention to step down from the post in a recent letter to the BOA board, the National Olympic Committee and the BOA Advisory Board.

Lord Moynihan wrote: "The press will be looking forward to what lies beyond the Games: to the UK's sporting future and the delivery of a real London 2012 sports legacy.

"In this context of looking forward, I will let them know that I intend to hand on the baton smoothly and securely to a successor chair who, once elected, will work with Andy and the board to take us forward to Rio.

"I strongly believe that this is the right time: a new chair must have the opportunity to play a central role in the future strategy and direction of the BOA henceforth, and he or she must be integrally involved in the preparations for Sochi.

"It is for this reason that I have made my decision now on the timing of the election, to ensure as long a period as possible for my successor to become established in the role, ahead of the next Games."

Lord Moynihan also used his letter to announce he will be stepping down as chair of British Ski and Snowboard in the lead up to the 2014 Winter Games in Sochi, Russia.

Click here to read Lord Moynihan's announcement in full.