Minister Ranasinghe had publicly sought the board's resignations after the island nation's team 302-run crushing defeat to India last week, media reported.
The minister has been at loggerheads with the cricket board of Sri Lanka over allegations of widespread corruption.
The minister has been at loggerheads with the cricket board of Sri Lanka over allegations of widespread corruption.
Former Cricketer and 1996 World Cup-winning skipper Arjuna Ranatunga has been appointed chairman of a new interim board, Ranasinghe's office said in a statement, adding: "Sports Minister Roshan Ranasinghe has formed an interim committee for Sri Lanka Cricket."
Last Thursday, Team India put up a mammoth score of 358 in the 50-over format match against Sri Lanka in Mumbai city. But the island nation's team was bowled out at a paltry 55 runs. It was the fourth lowest Cricket World Cup score in history.
On Monday afternoon, Sri Lanka are set to face Bangladesh team in the world cup match to be played in pollution-hit Delhi.
Sri Lanka Cricket happens to be the richest sports organization of the economic-crisis hit country. The Sri Lanka team is yet to win a world cup since it triumphed in 1996.