The Indian powerbroker was anointed by the ICC at its annual conference in Melbourne on Thursday despite being suspended by India's Supreme Court as his country's top cricket official after being named in a damning report into corruption allegations in the Indian Premier League.
The Federation of International Cricketers' Associations, which represents the players of all Test nations with the exception of India and Pakistan, said it was disappointed by the decision.
"We've seen in recent days significant changes at ICC level, which represent a new era in terms of the administration and leadership of world cricket," said outgoing FICA executive chairman Paul Marsh.
"FICA's position on this is well known. Our strong preference was for the controversy involving Mr Srinivasan in India to be resolved before the ICC made a decision on the chairmanship," the Australian added.
"While it's disappointing that this did not occur, we can't let this distract FICA from its responsibility of helping shape cricket's future."
Marsh later said in a radio interview that the sport was now in an embarrassing situation.
"It's difficult to see how cricket has got to this point," he said.
"It's one of the saddest things I've seen in cricket. It's embarrassing for the game that we're in this position."
He added: "The process that they've gone through to get to this point is very concerning.
"Effectively what's happened here is the 'Big Three' boards of England, Australia and India have taken over the world game.
"I don't see that cricket has a huge future if the game becomes about three or four countries."
South Africa's Tony Irish was appointed Friday as FICA's new executive chairman to replace Marsh, who is leaving to take charge of the Australian Football League's Players Association.
Former West Indies captain Jimmy Adams was reappointed as president at FICA's annual meeting in Melbourne.
COMMENTS (2)
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ
How will Srinivisan as ICC chairman deal with BCCI ? It's ridiculous that the ICC members agreed to elect him president given that he is suspended by BCCI.
If the FICA had balls, all players would boycott ICC events until ICC gets its own house in order.
FICA is another group that doesnot matter.