Lloyd, who led the West Indies through one of the most glorious phases in their cricketing history, has most recently been doing the rounds in international cricket as an International Cricket Council (ICC) match referee and faces the opposition of Val Banks for the post of second-in-command.
Banks is currently the vice-president of the board and is hoping for re-election. A banker from Anguilla, Banks is a strong chance to retain his spot, and has already served under Wes Hall and Teddy Griffiths.
The final election will take place in St Maarten on August 7, where the Board will also discuss matters pertaining to financial statements from the last calendar year.
Ken Gordon, a former minister from Trinidad and Tobago, was the only nominee for the presidency.