Gustavo Olivieri has been named as the WBO's new president, replacing the retiring Francisco "Paco" Valcarcel. The news was revealed at the WBO convention, which is in session through the weekend. Olivieri is an attorney, like Valcarcel, and was, until today's announcement, the in-house counsel for the WBO, a Puerto Rico-based sanctioning organization. Valcarcel has been president since the mid 1990s, and is largely responsible for its rise to prominence.