Olympic Order for CEO

"I am extremely honoured to receive such a prestigious distinction. This award means a lot to me since the Olympic Games are much more than a sporting event," he said at the Extraordinary General Assembly of the European Olympic Committee in Rome, where he received the prize.

"They symbolise the fundamental values of sport, transcend boundaries, unite different cultures and represent a unifying movement. Eurosport has been involved in nine Olympic broadcasts and will continue to bring innovative coverage to enable everyone to enjoy the Olympic experience and share its magic emotions."

The Olympic Order, created by the International Olympic Committee in May 1975, is the highest award the Olympic Movement can bestow upon an individual.

For many years Mr Codignoni has overseen the promotion and increase in exposure of the Olympic Games and of all Olympic sports on his pan-European television channel, Eurosport.

It is secured as the European Channel of the Olympic Games through to the year 2012 and since its creation has broadcast all Summer and Winter Olympic Games. It made history in Olympic TV coverage by becoming the first channel to broadcast the Games around the clock.

The channel has been committed to covering all events and disciplines as well as the Paralympic Games.

Since 1993 Eurosport has also produced Olympic Magazine in association with the IOC and the European Broadcasting Union, which looks at the Olympic Movement through its institutions, athletes, partners and actions.

It also organises the SportStar Awards ceremony every two years in order to honour European athletes and the Olympic values.