The ICC board has unanimously agreed a proposal to appoint a new independent chairman as part of a review of its governance structure in an attempt to make the governing body more transparent and reduce the power of the 'Big Three'.
ICC chairman Shashank Manohar last year spoke of his concerns over the power held by the boards of India, Australia and England - the so-called 'Big Three' - who he accused of "bullying" the organisation.
The ICC board met in Dubai on Wednesday and agreed the Board of Control for Cricket in India (BCCI), Cricket Australia (CA) and the England and Wales Cricket Board (ECB) should not have permanent members on the Executive Committee and the Financial & Commercial Affairs Committee.
They also agreed to conduct a review of the 2014 constitution - which gave the BCCI, CA and ECB great power and an increased share of revenue - in a bid to avoid potential conflicts of interests.
The board also proposed that a new ICC chairman, set to be appointed in June, will not be permitted to hold another role with a member board and candidates must be a past or present ICC board director.
Manohar said: "We had very purposeful and positive meetings, and the decisions taken clearly reflect that we collectively want to improve the governance in a transparent manner, not only of the ICC but also the member boards.
"This, in turn, will enhance the image and quality of the sport. No Member of the ICC is bigger than the other and I am determined to make a meaningful contribution in this regard with support of all the members."
Manohar will head a five-member steering group which has been set up to conduct the review and make recommendations for changes at the ICC annual conference in June 2016.