Sebastian Coe has been elected as president of the International Association of Athletics Federations.
Former British Olympic 1500m Champion Lord Coe beat Ukrainian pole vaulting legend Sergey Bubka by 115 votes to 92 in a ballot of IAAF congress members.
As the front-runner to be the next chairman of the BBC Trust Lord Coe has admitted he is "flattered" to be considered for the job.
The former middle distance runner did not deny he had been approached about the role when he was contacted by the Telegraph.
He told the newspaper: "I think you will find that whenever any job at the moment comes up I seem to be slated in for it.
"Either the Mayor of London, Fifa, International Olympic Committee. I'm very flattered, thank you, but I've actually just got off a plane. I have absolutely nothing more to say."
Lord Sebastian Coe will receive the Lifetime Achievement award at tonight's BBC Sports Personality of the Year event.
The award recognises his career as an athlete and his contribution to sport in the UK, including the role he played in the success of the London 2012 Olympic and Paralympic Games, the BBC said in a press release.
Lord Coe became chairman of the board for the London 2012 bid team in 2004 and was pivotal in transforming the city's campaign to host the Games, it said.
His final speech that secured London as the hosts focused on the need to engage young people in sport to create a new generation of champions.
He is also remembered as one of Britain's greatest athletes, becoming a double Olympic champion and 12-time world record-holder.
He won gold in the 1500m and silver in the 800m at both the Moscow 1980 and Los Angeles 1984 Olympic Games.
He retired from athletics in 1990.