"Everything that has been achieved in the past 12 months shows not only the resilience of our sport but also what can be done when we work together. This is a clear lesson we have all taken from the pandemic and will remain with us throughout this coming season," said Freudenstein in Cricket Australia's release.
"The Board has commenced the process of identifying the next Chair and it is anticipated that we will be in a position to make an appointment before the end of the year," he added.
Freudenstein also praised Eddings and said he has guided Australian cricket through some of its greatest challenges.
"I would like to acknowledge Earl Eddings' enormous contribution to Cricket Australia, including the past three years as Chair. During his 13 years on the Board, Earl has been a passionate advocate for our game and in recent years, has guided cricket through some of its greatest challenges, including rebuilding the trust and reputation of the sport after Cape Town and working with the cricket community to overcome the enormous impact of the COVID-19 pandemic," said Freudenstein.
"We should all be proud of the way the sport rose to the challenges of COVID-19 to stage a hugely successful Indian tour last summer and ensure the Ashes can go ahead this summer. Earl's role in that, in particular managing our international relationships has been critical.
"Additionally, under his stewardship, the women's game has gone from strength to strength, particularly the Australian women's team and the Weber WBBL," he added.
Also, the Annual General Meeting (AGM) voted in favour of the re-election of WA Cricket-nominated director Lachlan Henderson and Queensland Cricket-nominated director Greg Rowell on Thursday.
According to the apex board, on the 2020-21 financial year, CA delivered a 6 per cent increase in revenue to $414.7 million, reflecting the collective efforts of the cricket community to overcome the challenges of the COVID-19 pandemic.
"In 2020-21, in a world where everyone has faced so many challenges, the collective commitment, resolve and sacrifice from so many people has meant that we delivered an incredible cricket season that gave hope and joy to people all around Australia and around the cricketing world," said Nick Hockley, Cricket Australia CEO.
"Having already hosted a fantastic Commonwealth Bank Women's International Series between India and Australia, we look forward to the Weber WBBL starting tonight, the KFC BBL, the Men's Vodafone Ashes series, the Women's Commonwealth Bank Ashes series, the Men's Dettol ODI & T20I Series against New Zealand & Sri Lanka, the WNCL, Marsh Sheffield Shield, Marsh One-Day Cup and the ICC Women's World Cup in New Zealand. It's going to be another massive summer of cricket," Hockley signed off. (ANI)