COSTA NAVARINO, Greece (Kyodo) -- The International Olympic Committee decided Wednesday to name its outgoing President Thomas Bach as honorary president for life.

The 71-year-old German, a fencing gold medalist at the 1976 Montreal Olympics, will step down in June after 12 years in charge.

The decision was made on the opening day of the 144th IOC Session in Costa Navarino, Greece, a day before his successor is elected.

Seven candidates are in the running: Prince Feisal Al Hussein (Jordan), David Lappartient (France), Johan Eliasch (Britain), Juan Antonio Samaranch (Spain), Kirsty Coventry (Zimbabwe), Sebastian Coe (Britain) and Morinari Watanabe (Japan).

Watanabe, president of the International Gymnastics Federation, is the first-ever Japanese candidate for the role.