He will now serve a four-year term on the 15-member Board, a period that will include the London 2012 Olympics.

The last Briton to hold such a lofty position in the Olympic Movement was Lord Burghley, the 1928 Olympic 400 metres hurdles champion, who was immortalised in the Oscar-winning film Chariots of Fire.

Sir Craig is only the third Briton to be elected to the Board.

The other one was Lord Aberdare, a former tennis and boxer who was involved in the organisation of the 1948 Olympics in London.

Sir Craig, a 67-year-old from Stirling, served as the chairman of the British Olympic Association between 1992 and 2005.

He stepped down from that role after playing a crucial role in London's successful bid to host the 2012 Olympics.

Sir Craig said: "Thank you colleagues for allyour support.

"I look forward to working with you all."

Sir Craig, was the President of the International Badminton Federation (IBF) from 1981 to 1984 and was the guiding force behind getting the sport into the Olympics, making its debut at Barcelona in 1992.

He joined the IOC in 1994 and this was his third attempt to become a member of the Executive Board.

Sir Craig polled 52 votes to win the first of two elections for the post.

He beat Ireland's Patrick Hickey, the President of the European Olympic Committee, who received 39 votes.

Australia's John Coates was elected for the second spot on the Executive Board.

Coates, the President of the Australian Olympic Committee, beat Chinese Tapei's C.K Wu by 48 votes to 43 after Hickey had surprisingly gone out in the previous round, which was extremely tight.

Coates had polled 31 votes, Wu 31 and Hickey 30.

Coates said: “I am greatly honoured and I understand the responsibilities that come with the office and will continue to serve the Movement faithfully.”