Golden Boy Promotions President Oscar De La Hoya has released a statement regarding the future of his company. The statement comes on heels of the recent departure of Richard Schaefer, the longtime CEO of the company.

"Golden Boy Promotions is moving ahead on all fronts. We look forward to continuing and expanding our key position in the boxing world and to providing the public with the very best the sport has to offer," De La Hoya said.

After months of internal bickering between Schaefer and De La Hoya - Schaefer announced on Monday that he was officially leaving Golden Boy.

"After more than ten years with Golden Boy, it is time to move on to the next chapter of my career. This decision has required a great deal of personal reflection, but ultimately I concluded that I have no choice but to leave. I have succeeded in banking and I have succeeded in boxing, and I look forward to the next opportunity. I am proud to remain a shareholder, so I have a strong interest in the continued success of the company. I am proud of what we have accomplished at Golden Boy, but I now look forward to new challenges."

The feuding between Schaefer and De La Hoya first began when De La Hoya publically revealed his intention to make peace with promotional rival Bob Arum of Top Rank. Schaefer was very much against the move and made it clear that he would refuse to have anything to do with Arum or his company.