"In the last 12 months we have laid key foundation stones which have included a new strategy for Australian cricket, a new memorandum of understanding with the Australian Cricketers' Association that provides certainty for our male and female cricketers, and just recently, a new domestic broadcast rights deals that will see broader TV coverage and significant increases in revenue flowing into the game", Sutherland added.
Mr Sutherland, a former accountant, first joined Cricket Australia in 1998.
Cricket Australia took a strong note on the "ball-tampering" incident and banned Smith and Warner for one year from playing worldwide and domestic cricket while Bancroft was given a 9-month suspension.
It comes after a turbulent few months for Australian cricket highlighted by the ball tampering crisis which resulted in on-field leaders Steve Smith and David Warner losing their jobs while coach Darren Lehmann resigned days later.
The 52-year-old insisted in Cape Town two months ago that he had no intention to stand down in the wake of Australia's premeditated plan to cheat by scuffing the ball with sandpaper.
"I think that having been in the role for 17 years, there are things that I've come to know along the way, that it's only appropriate for me to work closely with my successor".
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Now during an interaction, Smith admitted that he cried for four days after a ball-tampering scandal.
Public heat was turned on Sutherland over the unprecedented saga which led to skipper Steve Smith and vice-captain David Warner being banned for 12 months and prompted on-going reviews into the culture at CA and in the team.
"It's something I've been talking about for a long time". "After almost 20 years at Cricket Australia, the time is right", Sutherland said.
"My successor will have a strong and stable platform to lead our sport and deliver on our bold aspirations for cricket to be Australia's favourite spot and a sport for all Australians", Sutherland said on Wednesday.
"My overwhelming feeling today is a sense of gratitude", Sutherland said.
"On behalf of the board and management of Cricket Australia we thank James for his wonderful service to the game", he said. "He carries himself with humility and dignity", Peever said.