The Cricket Advisory Committee, consisting of Ashok Malhotra, Jatin Paranjpe, and Sulakshana Naik, unanimously recommended Gambhir as the head coach of Team India (Senior Men) on Tuesday.
Soon after thanking Dravid for his successful stint, Shah announced that Gautam Gambhir had been appointed the new head coach of the Indian cricket team.
Shah, currently in the Caribbean celebrating India's T20 World Cup win, confirmed that the new coach will take charge from the Sri Lanka series starting on July 27.
On Friday, Kohli notched up his 52nd IPL fifty at the M Chinnaswamy Stadium against the Kolkata-based franchise, playing an unbeaten innings of 83 runs from 59 balls.
Turning fortunes of a beleaguered outfit is nothing new for Gambhir, who had taken KKR's charge during the fourth season of IPL after the Shah Rukh co-owned team failed to reach the knock-out in first three.
Venkatesh had a good time with the bat for Madhya Pradesh, amassing 547 runs in eight matches, at an average of 45.58, including a century and four fifties.