New Delhi: Former Indian captain Krishnamachari Srikkanth is likely to replace Dilip Vengsarkar as the chairman of the selection committee, sources told NDTV.

He will replace Dilip Vengsarkar, whose tenure of two years has come to an end. The new panel of selectors will also be announced after the Annual General Meeting (AGM) on September 27-28 in Mumbai.

While Narendra Hirwani from the Central zone will replace Sanjay Jagdale, Raja Venkat will be the man from the East Zone. Yashpal Sharma returns from the north and coming in for Dilip Vengsarkar from the West is Surendra Bhave of Maharashtra.

The BCCI has decided to pay an annual honorarium of Rs 25 lakh to each of five selectors of the national selection committee.

Meanwhile, the current set of office bearers have selected the new Vice-Presidents for the Board. Arun Jaitley will replace Rajiv Shukla as the North Zone Vice-President. Lalit Modi (Central), Chirayu Amin (West), Arindam Ganguly (East) and Shivlal Yadav (South) are in charge of the other zones.

Shukla is likely to head the Media & Finance Committee while Marketing Committee will be headed by Sharad Pawar. Shashank Manohar will take over as the next BCCI President.