BCCI president N Srinivasan would become the ICC chairman from July this year, while Cricket Australia chairman Wally Edwards would head a newly-formed Executive Committee, which will report to the ICC Board. The ICC Board will continue to be the primary decision-making body.
A new Executive Committee will be formed to report into the Board. The initial Chair of this Executive Committee will be Wally Edwards from Cricket Australia while the Chair of the Finance and Commercial Affairs Committee will continue to be Giles Clarke from the ECB. These roles will be for an initial two year transitional period to 2016 only.
Once this transitional period is completed, the Chair of the ICC Board will be elected from within the ICC Board with all Full Member Directors entitled to stand for election. BCCI, CA and ECB - will be represented on both sub-committees, along with two representatives of the other Full Members (who will be elected by the Board).
A set of proposals was initially developed by the respective Chairs of BCCI, CA and ECB - N. Srinivasan, Wally Edwards and Giles Clarke before being presented to a meeting of the Full Members on 9 January.
These proposals were then discussed, negotiated and modified at two subsequent ICC Board meetings. A resolution was put to a vote today and supported by the required majority of the ICC Board, including eight Full Members. Two of the Full Members - Pakistan Cricket Board and Sri Lanka Cricket - abstained in the vote as they felt they needed more time to discuss the amended resolution with their respective Boards.
ICC President Alan Isaac said that, "The Board has made some significant decisions on Saturday which provide us with long-term certainty in relation to the future governance, competition and financial models of the ICC.
This decision comes after extensive discussions between Members that I helped initiate and were given impetus through a position paper presented by the BCCI, Cricket Australia and ECB in early January."
"Since this time a set of resolutions have been drafted, negotiated and modified - based on a set of principles agreed by the ICC Board on 28 January - and finalized at the meeting today. There were eight Full Members who were in a position to support the resolution today and the two who abstained have pledged to further discuss the issues with an aim to reaching unanimous approval over the coming weeks."