Khodabakhsh, who most recently was the CEO of World Series Boxing, was selected to replace Alexandra Armas, who will be stepping down after leading the Tour for eight years.
'Ivan was the unanimous choice of the Board,' explained LET chairperson Karen Lunn. 'We believe his vision, commercial expertise and experience in a number of sports will prove to be a huge asset.'
While in his former post with the WSB, Khodabaskhsh garnered international headlines for his purported role in a scandal in which representatives from Azerbaijan were alleged to have offered large bribes to ensure boxers from their country won medals at the 2012 London Olympics.
As one 'insider' source from the original BBC report in September 2011 put it, 'Ivan boasted to a few of us that there was no need to worry about World Series Boxing having the coin to pay its bills. As long as the Azeris got their medals, WSB would have the cash.'
Khodabaskhsh denied his role in any wrongdoing, and remained atop the WSB even after questionable scoring in matches involving Azeri boxers in London brought the issue back to light this past summer. His attention now turns to golf, though, as he looks to grow the women's game across Europe.
'I am really thrilled to be appointed and excited by the challenge,' he explained in a statement from the LET. 'There is huge potential for growth in women's golf, especially considering the inclusion of the sport in the Olympic program (in 2016).'