ICC chairman Shashank Manohar today deferred his recent decision to step down from the post until a successor is elected following the completion of the 2017 Annual Conference.
The decision comes following an ICC Board resolution to request him to remain in post was passed with overwhelming support earlier this week.
In a significant show of support for Manohar, the Board asked him to withdraw his resignation or at the very least defer it until the ongoing process relating to governance and financial restructuring are completed.
Commenting on the decision, Manohar said: 'I respect the sentiments expressed by the directors and the confidence they have reposed in me. In the light of this, and although my decision to depart due to personal reasons has not changed, I am willing to continue as chairman till the responsibility as per the resolution is complete.
'I have duty to work with my colleagues to enable a smooth transition and continue our work on the governance of the ICC.'
In a stunning turn of events, Manohar, a two-time former BCCI president, had last week resigned as ICC chairman citing personal reasons, abruptly ending his two-year tenure in a mere eight months.
However, highly-placed sources believed Manohar decided to quit after BCCI gained enough ground to block the constitutional and financial reforms that were set to be passed by the ICC at its next board meeting.
Cricket Australia Chairman David Peever said: 'This resolution is a clear indication that whilst the Board may not yet agree on the detail of our reform process, we are committed to the overarching philosophies of it.
'We all believe that Shashank should be the man to see it through and whilst respectful of a decision made for personal reasons, we are delighted that he has agreed to remain in post until the completion of the 2017 Annual Conference where we can elect a successor.'
BCCI's Vikram Limaye added: 'It is important that the current issues are resolved to everyone's satisfaction. We had a productive meeting with Mr Manohar recently (prior to his resignation) wherein we outlined the concerns of BCCI on the financial model and governance issues and our suggestions for resolution. We are committed to working with ICC for a satisfactory resolution of these issues.'