In 1978, Olafsson succeeded Max Euwe as President of the international chess governing body FIDE. During the tenure he presided over the 1981 Karpov–Korchnoi World Championship match. Since Korchnoi defected from the Soviet Union in 1976, the Soviets were holding Korchnoi's son, Igor. Olafsson delayed the planned September 19 start date of the match in a bid to get the Soviets to release Korchnoi's son. For this attempt, Olafsson drew the wrath of the Soviets, who then backed the FIDE Vice-President, Florencio Campomanes for the Presidency of FIDE. Campomanes successed Olafsson as FIDE president in 1982.