Keith Colwell says the board would be headed by Bible Hill businessman Bruce Kennedy.
Colwell says the board would continue its work while an audit begins of the Nova Scotia Provincial Exhibition.
He says the $90,000 audit will be performed by KPMG and is expected to be completed in early July.
He says the position of permanent general manager for the Provincial Exhibition will be listed in the coming weeks.
In February, the government foreclosed on a loan and took over the assets of the commission.