"When Mr Valcke first came to FIFA we had equity in the red," said FIFA president Blatter at a press conference in Zurich, reported by Reuters.
"Four and a half years of intensive work later we now have a reserve of 752.0 million Swiss francs ($612 million) and Mr Valcke has proven that in the field of marketing, television and operations he is a dominant personality."
Valcke’s career in sports began when he joined French television channel Canal+ as a journalist in 1984. He was appointed assistant head of sport in 1991.
In 1997 he switched to Sport+ in the role of CEO, a position he occupied until 2002. He then spent a year as chief operating officer at Sportfive.
Valcke replaces Urs Linsi, who resigned earlier this month.
Markus Kattner, formerly FIFA's director of finance & controlling, has been appointed as deputy general secretary.
Jérôme Valcke, FIFA’s former director of marketing & TV, has been appointed as the new FIFA general secretary.
