"After 10 years at ECB I believe it is the right time to step aside and retire from the position of chief executive as I shall turn 60 in the spring and I do believe the time is right for a new CEO to open the batting," Collier said in an ECB statement after British media reports yesterday had flagged up his impending exit.
He added: "I am immensely proud of the achievements and the enormous strides forward which cricket in England and Wales has made during the past decade."
During Collier's 10 years at the ECB, England have enjoyed several memorable moments, including an Ashes series victory in Australia for the first time in almost a quarter of a century in 2011/12 as well as three home Ashes series wins.
England also went to the top of the International Cricket Council's Test rankings in 2012, again for the first time.
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However, they have since slipped dramatically from that position and suffered a 5-0 Ashes whitewash in Australia in 2013/14.
Off the pitch, Collier played a key role in the lucrative sale of live television rights to a subscription-based broadcaster.