Bob Yalen Resigns As MTK Global CEO Following ‘Pressure’ Over Last Few Weeks
The CEO of MTK Global has stepped down in the wake of the growing controversy surrounding company co-founder Daniel Kinahan.
Bob Yalen announced his resignation as CEO of the company Tuesday morning. Yalen, who was elected to the International Boxing Hall of Fame, was a key figure in rebranding the global managerial company.
“We regret to announce that Bob Yalen has today stepped down as CEO of MTK Global for personal reasons,” MTK Global wrote in a press release.
“We would like to thank him for all of his efforts on behalf of the business and his leadership of our team.”
Breaking: Bob Yalen resigns as CEO of MTK Global in continued Kinahan fallout. Statement below. #boxing pic.twitter.com/iaXw8Lq3xQ
— Dan Rafael (@DanRafael1) April 19, 2022
Yalen was announced as its new CEO in June 2020. He replaced owner Sandra Vaughan, who bought MTK from Macklin in 2017. MTK Global said in a statement last week that the company had parted ways with Kinahan back in February 2017.
Still, Kinahan had become a figure in the boxing world as well as MMA. WBC heavyweight champion Tyson Fury confirmed in a viral video that Kinahan served as his adviser and allegedly finalized a deal for an undisputed heavyweight championship fight against then WBA, IBF, WBO and IBO titleholder Anthony Joshua.
Fury was one of many who were urged to cut ties with Kinahan, who the U.S. placed a $5 million bounty for any information that could lead to his arrest.
UFC welterweight Mounir Lazzez was recently questioned after he shout out Kinahan in his post-win speech, calling Kinahan a “friend and adviser.”
A year after Kinahan parted from MTK Global, Yalen joined and served as president of the company at the beginning of October 2018, which was about a year after they had changed their name from MGM (Macklins Gym Marbella) to MTK, which was part of a rebranding process.
Yalen was a television executive with ABC Sports and ESPN and also produced boxing coverage for NBC Sports for the 1996 and 2000 Olympics.
“I am incredibly proud of the success of MTK Global and I feel privileged to have served as President and CEO since 2018,” Yalen said in the company statement. “However, the pressure of the last few weeks has been particularly intense.”
Kinahan and six other individuals were identified as being integral members of the Kinahan Organized Crime Group and are facing allegations of drug trafficking and money laundering.
“I need to consider the impact on myself and my family. So after four years leading MTK, I think it’s time for me to step aside to take on new challenges.”