Graves’s tenure was due to expire next May, but he will now stay in place until November 2020, after the debut season of the high stakes domestic competition.
A special resolution, first floated last month and proposed by the ECB’s non-executive directors, was approved at yesterday’s annual general meeting.
Speaking after the vote, former Yorkshire chairman Graves said: “I would like to thank the ECB members for supporting this change to our Articles of Association.
“I believe they have made a decision that is in the best interests of the game. This will provide continuity during an important period as we look to establish our new five-year plan, Inspiring Generations, a central component of which is the launch of The Hundred, next summer.”
The search for Graves’s successor will begin in September.
The Hundred will see the introduction of a fourth format to the cricket landscape, with 100-balls per innings.
The competition has attracted a seismic broadcast deal and will see the return of live cricket to free-to-air television in the form of BBC broadcasts.