Financial Executive Timur Turlov Named President of International Chess Federation
Lausanne, Saturday, 26 September 2026.
Billionaire financial CEO Timur Turlov was elected FIDE president on September 26, 2026, securing 110 votes and pledging a $7 million investment to modernize global chess governance.
Historic Election in Samarkand
On Saturday, 26 September 2026, Timur Turlov was elected as the president of the International Chess Federation (FIDE) during the General Assembly in Samarkand, Uzbekistan [1][2]. Turlov, the founder and chief executive officer of Nasdaq-listed Freedom Holding Corp. (FRHC), secured the leadership position in a decisive second round of voting [1][4]. This election marks a significant transition for the governing body, which was founded in 1924 and comprises 204 member federations [1][3]. The event coincided with the 46th Chess Olympiad, highlighting the global significance of the gathering [2][3].
Vote Count and Leadership Transition
In the final election round, Turlov secured 110 votes against 85 for his opponent, Wadim Rosenstein, out of 196 total votes cast by national federation delegates [2][4]. This result represents a vote share of approximately 56.122 percent for the incoming president [2]. Turlov succeeds Arkady Dvorkovich, who served two terms from 2018 to 2026 [2][3]. Rosenstein officially acknowledged the election results on the same day, ensuring a smooth transition of power within the organization [4].
Financial Background and Corporate Leadership
Turlov leads Freedom Holding Corp., a financial services firm operating in 24 countries with a market capitalization of approximately $11 billion [2][3]. The company is regulated by the U.S. SEC and is listed on NASDAQ, KASE, and AIX [1]. Prior to this global role, Turlov served as president of the Kazakhstan Chess Federation since January 2023 and founded the International School Chess Federation in September 2024 [2][3]. His corporate background brings a focus on strategic resource allocation to the sports governance role [1].
Strategic Investment Plans
Following his election, Turlov pledged to invest $7 million into FIDE to modernize digital infrastructure and enhance player verification tools [1][3]. He aims to establish a media fund for national federations to strengthen their reputation and raise awareness among the global chess audience [1]. Turlov emphasized that while seeking commercial partnerships, FIDE must not become purely a business, aiming instead for long-term sustainability [1][4]. Implementation of these programs is set to begin following the conclusion of the General Assembly proceedings [1][2].