The embattled president of the world amateur boxing federation resigned four months after the group’s executive committee overwhelmingly approved a no-confidence motion against him for mismanaging the organization’s finances.

In a statement, Ching-kuo Wu, who led the International Boxing Association, or the A.I.B.A., for 11 years, said he would “step down in the best interests of both A.I.B.A. and boxing” and would “ensure a smooth handover to the new leadership.” In October, Wu was also suspended by the A.I.B.A.’s disciplinary commission for entering into commercial agreements without the consent of the organization’s board.

Both the organization and Wu said “at this stage there is no indication of any unethical behavior by either party.”

The A.I.B.A., which governs amateur boxing worldwide, has been embroiled in financial scandals stemming in part from Wu’s efforts to raise money to build a global semiprofessional boxing tournament called the World Series of Boxing. This summer, one of the A.I.B.A.’s largest creditors, a company from Azerbaijan called Benkons, said it wanted the organization to immediately repay a $10 million loan, which is four years overdue. The loan is worth more than the A.I.B.A. has in cash on its books, according to financial documents seen by The New York Times.