Colin Graves has been re-elected as the chairman of Yorkshire, despite the controversy surrounding his appointment as a non-executive director the day before.
Graves' first spell in charge, from 2012 to 2015, coincided with the period when the club was fined for failure to address the systemic use of discriminatory or racist language.
The 76-year-old described himself as honoured and privileged to return to Headingley.
He takes over from interim chair Baroness Tanni Grey-Thompson, who will continue to serve on the board as a non-executive director, and former chair Harry Chathli.
The members of the Yorkshire have accepted an offer of a loan from Graves, who previously served as chairman and helped to save them from financial ruin in 2002.
Graves will work with the board in resolving the current financial situation and restoring financial stability and sustainability for Yorkshire Cricket for future generations.
He stated he is personally committed to ensuring that all people, regardless of their background, community or ethnic origin, are welcome in the fully inclusive culture and environment of Yorkshire County Cricket Club.
There will be no exceptions. Lessons have been learnt and the club will act on them as we move forward with a focus on the future of this great club.
Last month, Graves issued a personal and unreserved apology for the racism scandal.
Despite previous denials, it was revealed last year that the England and Wales Cricket Board (ECB) had criticised him for suggesting that some incidents were merely 'banter'.
Yorkshire's sponsors have been urged to oppose Graves' return by former Yorkshire player turned whistleblower Azeem Rafiq, who revealed he experienced racism at the county.
Yorkshire members approved a takeover by a consortium led by Graves at a general meeting last week.
Chathli emphasized during the meeting that directors must not put the club into administration based solely on personal feelings towards an individual, as it would be a breach of their duty of care.
Meanwhile, Chief Executive Stephen Vaughan stated that Graves' consortium is the only viable option to ensure the club's financial stability in the future.
Yorkshire had been seeking new investment since losing sponsors due to their handling of a racism scandal. The club also had to agree to compensation packages with sacked staff who won claims for unfair dismissal.
However, following major governance changes, the ECB reinstated Yorkshire's right to host lucrative international matches at Headingley.
Despite concerns raised by Charity Sporting Equals, Graves' return is a positive step towards the club's future success.
Yorkshire asserts that the board conducted a rigorous process to ensure the club's continued operation.