Richard Schaefer, the CEO of Golden Boy Promotions, has resigned from the company as of today. This was no surprise as Schaefer and Oscar De La Hoya had recently bumped heads over the issue of mending the fence with Top Rank. De La Hoya was in favor of patching things up with Bob Arum and Top Rank, whereas Schaefer was against it.
Schaefer had been with Golden Boy Promotions for 12 years and was a huge part of the company’s success. De La Hoya had the name, but Schaefer did a lot of the hard work in putting cards together and signing high quality fighters.