Graves announced he would finish his term earlier than scheduled following the postponement of new English domestic competition The Hundred due to the global coronavirus pandemic.

Graves, who has been in post for five years was due to finish in November 2020 following the first season of the new-look competition.

His term had previously been due to end in May 2020 but this was put back last year to allow him to oversee the scheduled start of The Hundred this summer.

"It has been a privilege to work with so many passionate people across the game who are driven by their belief in cricket’s power to improve lives and connect communities," said Graves.

’It feels important to both the game and the ECB Board, to allow Ian Watmore to commence his role earlier than originally agreed.

"I have no doubt that his wealth of experience in sport, business and Government will be invaluable as we navigate through this crisis.

‘’I have been extremely heartened by how cricket has come together in these recent, unimaginable times. 

"There remains a long road ahead, but I have immense confidence in the excellent leadership of Tom Harrison, our Executive Management team and the ECB Board as they shape the direction of our response to COVID-19.

‘’It has been a privilege to work with so many passionate people across the game who are driven by their belief in cricket’s power to improve lives and connect communities. 

‘’There is still much to be done in the coming months as I continue to lead the ECB during this challenging time. 

"As we get closer to August I will look forward to saying my farewells and sharing good wishes to all those I have worked alongside."

Watmore has been confirmed as chair elect of the ECB after the Board conducted a review of allegations made against Watmore dating back to his time working as a non-executive director of the English Football League (EFL).

National newspapers in the United Kingdom published allegations that Watmore was involved in talks of forming a breakaway league that would leave behind Sky Sports, the EFL’s broadcast partners, potentially jeopardising a £595million ($743million/€675million) television deal, as reported by Wisden.

The allegations, denied by Watmore, were investigated by an ECB sub-committee who found no evidence to support them.

The ECB added: "It was concluded that the appointment process had been undertaken in a thorough and professional manner and the Board now regards the matter closed."

Following the ECB Board unanimously endorsing Watmore's appointment earlier this week, this will now be put to the membership for ratification at the annual general meeting, to be held later this month, with the exact date yet to be confirmed.