Cricket South Africa (CSA) Chief Executive Officer Gerald Majola was suspended pending a disciplinary hearing on Saturday.
The CSA board met at OR Tambo International Airport to discuss the findings of the Nicholson Inquiry which recommended the suspension.
The inquiry said the board had failed to take appropriate action against Majola for alleged financial misconduct relating to the Indian Premier League (IPL) bonus scandal in 2009.
CSA independent board member Dr Oupa Nkagisang made the announcement.
"Gerald Majola is suspended with immediate effect pending the establishment of the disciplinary inquiry. The disciplinary inquiry is to address the findings of the KPMG report and the recommendations of the Nicholson Inquiry,” he said.
Willie Basson was appointed acting president of the CSA, while Jacques Faul will act as its CEO until the board’s annual general meeting later in 2012.
Ray Mali, who chaired the meeting, admitted the question of whether to dissolve the entire CSA board was discussed.
“That discussion did come up but the board felt that the matter can only be resolved or decided by the affiliates,” he said.
Mali said the decision to suspend Majola with full pay was unanimous.
He said Majola did request a three months leave of absence but the board turned him down.
It is unclear who will lead Majola’s disciplinary inquiry. They hope the hearing will be completed within 60 days.
The board members were asked difficult question about whether they were embarrassed or apologetic about the bonus saga.
They said they felt they were doing enough to win back public confidence.
Earlier, CSA Brand and Corporate Relations Manager Kass Naidoo tendered her resignation.
Naidoo also received a bonus for the IPL Tournament, but it is unclear if she will now have to pay it back.
(Edited by Lindiwe Mlandu)