Bennett, who took over at Old Trafford from Cedric Rhodes in February 1987, has advised the Lancashire committee that he will not accept nomination as chairman at next February's annual general meeting.
``The extra workload following my appointment as chairman of the England management committee has created circumstances under which I am no longer able to fulfil my role as chairman of the club in a manner which would satisfy my own aspirations,'' said Bennett, who was at the Oval yesterday.
Lancashire finished second in the championship in Bennett's first year as chairman and since then have dominated one-day cricket, winning a total of six trophies.
Alan Lewis, capped a record 121 times by Ireland, has announced his retirement from international cricket. The 33-year-old former captain is to concentrate on his career as an international rugby union referee.