Cricket Australia expressed regret on Sunday at the premature end to Malcolm Speed's [Images] spell as chief executive of the International Cricket Council.

Speed, a former chief executive of Cricket Australia (CA), was placed on paid leave by the ICC [Images] on Friday after falling out with several board members over various issues within Zimbabwe Cricket.

He was scheduled to step down when his contract expired in July.

"I note with regret that Malcolm Speed's distinguished career as an international cricket administrator has ended in the manner in which it has," (CA) chairman Creagh O'Connor said in a statement.

"I know first-hand of the dispassionate, professional and diligent manner in which he has sought for cricket to achieve high standards of administrative excellence."

Speed's departure came in the wake of an independent audit finding serious financial irregularities in the Zimbabwe board accounts, though the ICC did not call for any sanctions.

It also decided there had been no evidence of criminality and no individuals had gained financially.

O'Connor said the ICC had a difficult job managing the global game but its primary focus should be on the sport.

"As many have noted in the last few days, administering the ICC, which features a diverse global constituency, is a challenging task," O'Connor added.

"Cricket is becoming a genuinely global sport and will only have a long-term, sustainable future if the diverse interests within the game can put the game's interests ahead of any other interests."