For the past few months, there has been much speculation over the relationship between Oscar De la Hoya and the CEO of Golden Boy Promotions, Richard Schaefer. It was no secret that the two were not seeing eye-to-eye on many issues regarding the direction of his company. It only seemed like a matter of time before they parted ways.
On Monday afternoon, this statement was released to the media by Swanson Communications on behalf of Schaefer:
“After more than ten years with Golden Boy, it is time to move on to the next chapter of my career. This decision has required a great deal of personal reflection, but ultimately I concluded that I have no choice but to leave. I have succeeded in banking and I have succeeded in boxing, and I look forward to the next opportunity. I am proud to remain a shareholder, so I have a strong interest in the continued success of the company. I am proud of what we have accomplished at Golden Boy, but I now look forward to new challenges.”