(CNN) With less than 500 days until the Tokyo Olympics gets underway, Tsunekazu Takeda -- president of the Japanese Olympic Committee (JOC) -- has announced he will step down from his position in June amid allegations of corruption over Tokyo's successful bid to host the 2020 Games.

Takeda told reporters at a press conference Tuesday in Tokyo that he would also resign from his position as member of the International Olympic Committee.

The 71-year-old, ex-president of the Tokyo 2020 bid committee, was placed under formal investigation last December by French prosecutors over corruption allegations relating to the 2020 bidding process.

When asked whether his resignation had anything to do with the investigation, Takeda reiterated his innocence, saying: "I have not done anything unfair and I will work on to prove my innocence."

In a statement to CNN, the IOC said it respected Takeda's decision, adding: "Our respect of this decision is even greater because he took this step to protect the Olympic Movement while the presumption of innocence, on which the IOC insists, continues to prevail."

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