New Delhi: The England and Wales Cricket Board (ECB) met here on Thursday and formally announced Alastair Cook to replace Andrew Strauss as England's new ODI skipper, with the latter also announcing his retirement from ODIs.
In T20s, all-rounder Stuart Broad will take over the reins from Paul Collingwood.
Strauss, who captained England in 62 ODIs, said he took the decision to focus on his Test captaincy.
"I've enjoyed my time as England one-day captain immensely and I'm extremely proud of the strides we've made in limited-overs cricket over the past two years.
"We still have a long way to go if we're to achieve our goal of winning ICC global events and I feel now is the right time for me to step aside and ensure someone else takes up that challenge.
"Retiring from one-day cricket will also enable me to focus solely on the Test captaincy and our ongoing development in the Test arena as we also strive to be the top-ranked team in world cricket."
The incoming ODI skipper Cook said he would look to continue the progress England made under Strauss.
"Andrew Strauss has led the one-day team to continued success over the past two years and I'll be looking to continue that progress as captain. I'm excited by the challenge of taking our 50-over cricket to new heights and I believe I can play an integral role with the bat as well as captain.
"I've worked hard on my limited-overs cricket in recent times. I've never seen myself as a Test batsman exclusively and I know I have a lot to offer strategically and as a top-order batsman in one-day cricket.
"I will continue to work closely with Andrew Strauss and also Stuart Broad as we form a leadership team across all forms of the game. We have the chance to work together and share ideas which will benefit our cricket in all three formats."
Broad, who will make his debut as captain when he leads England's Twenty20 side against Sri Lanka in Bristol on June 25, said he looked forward to the challenge.
"It's a huge privilege to be named England Twenty20 captain and form part of a leadership team that I've no doubt will work well together with a great deal of synergy.
"I've always enjoyed playing the shortest form of the game and I relish the opportunity to develop my leadership skills as England's Twenty20 captain.
"As captain, the chance to work closely with Andy Flower is an extremely exciting one and as current World Twenty20 champions, I know there is a real responsibility to continue the team's recent success."
Hugh Morris, the Managing Director of England teams, said, he supported Strauss' decision to step down.
"We fully understand and support his decision to step down as ODI captain and after a comprehensive interview process, we are delighted to announce Alastair Cook as England's new ODI captain and Stuart Broad as Twenty20 captain.
"We believe Alastair has the ability and leadership attributes to successfully continue England's progress in one-day cricket and we're extremely excited by what the future holds for the ODI team under Alastair's guidance.
Praising Broad, Morris said the all-rounder has been a proven performer.
"Stuart Broad has proven himself to be a match-winner in all forms of the game and I know he'll relish the opportunity to further advance his leadership credentials while working closely with both Andrew and Alastair as an exciting leadership team spanning all forms of the game."