International Olympic Committee (IOC) president Thomas Bach was named Honorary Life President on Wednesday, marking a historic moment at the 144th IOC Session as he prepares to step down in June after 12 years at the helm of the global Olympic movement.

The announcement came towards the end of the first day of the Session, held at the coastal resort of Costa Navarino in southwestern Greece, where IOC members stood in unison, applauding to approve the proposal.

For a moment, the 71-year-old leading sports leader appeared taken aback, seated in quiet reflection as he took in the scene - a moment to relive the journey he had led for over a decade.

International Olympic Committee (IOC) President Thomas Bach addresses the opening ceremony of the Beijing 2022 Olympic Winter Games at the National Stadium in Beijing, capital of China, Feb. 4, 2022. (Xinhua/Li Ga)

Walking to the podium amid a standing ovation, Bach, his voice tinged with emotion, addressed the gathered members.

"I accept this great honor with deep humility, for two reasons. First, as I have always said, today's achievements are not those of one individual, but of all of us together. Every single one of you has contributed in your own way to this success. Every one of you has helped build the unity that we ultimately achieved, without which we would not have come this far. If we had not been united in our commitment to the Olympic values, who knows where we would be today? That is why the honor you bestow upon me today, I return to you all," he said.

A former Olympic fencing champion, Bach acknowledged the profound impact sports had on his life.

"I have always been grateful for the privilege of working in the Olympic Movement. Some may say the past 12 years have been difficult, that sacrifices had to be made. But I never felt I made a single sacrifice. After my career as an athlete, I was lucky to continue living my passion for sport. My Olympic gold medal changed my life, and as President of the IOC, I had the opportunity to help change the lives of others."

His 12-year tenure will officially conclude on June 23, Olympic Day, when the IOC will welcome its 10th President, elected on Thursday. Looking ahead, Bach expressed confidence in the future of the Olympic Movement.

"I can say with a clear conscience that I have given my all to the Olympic Movement. Now, it is time for new leadership. The leader you elect tomorrow will guide the Movement to an even brighter future - because in sport, yesterday's achievements are merely the foundation for tomorrow's success."

Throughout his presidency, Bach has been known for his "change or be changed" philosophy, leading a series of landmark reforms within the IOC. Under his leadership, three strategic roadmaps - the Olympic Agenda 2020 (2014), Olympic Agenda 2020+5 (2021), and Olympic AI Agenda (2024) - were adopted, shaping the evolution of the IOC, the Olympic Games and the Olympic movement itself.

At the same Session, IOC members took the opportunity to reflect on the achievements of the Olympic Agenda, the comprehensive reform framework that has fundamentally reshaped the Olympic Games and the IOC itself.

A 30-minute documentary was presented, featuring testimonials from athletes, officials and stakeholders who have benefited from the transformation.

"The Olympic Agenda has brought profound change to the way the Olympic Games are awarded, organized and presented," Bach said. "We set in motion the most far-reaching reform program of our Olympic Movement in recent history. This was not just a reform for the IOC, but for the entire Olympic Movement - a journey of collaboration, modernization and determination."

The Olympic Agenda reforms have touched on 10 key areas, including athlete empowerment, gender equality, sustainability, financial resilience and digitalization. The IOC Finance Commission reported that despite global economic challenges, the implementation of these reforms has significantly bolstered the IOC's long-term financial stability, with commercial revenue increasing by 60 percent since 2012.

Seven candidates are in contention to succeed Bach, and with the election just hours away, IOC members are preparing to cast their votes for the future direction of the Olympic Games.