Cresswell will take up the temporary position once a chairman is found to replace Grade, the outgoing executive chairman. The broadcaster is separating the roles of CEO and chairman currently being held by Grade.
However, Cresswell plans to leave the broadcaster when a permanent chief executive is found.
The latest development comes as former Channel 4 chairman Sir Michael Bishop ruled himself out of the running to take on the same role at ITV. Bishop had stepped down as chairman of BMI British Midland in July.
His decision comes shortly after Sir Crispin Davis, a former Reed Elsevier chief executive, took himself out of the running for the chairman’s role.
Last month, talks with former BSkyB chief Tony Ball to take on the CEO role broke down after failing to agree on terms.
It is understood that Ball had rejected the estimated £20m package offered to him and was instead believed to be negotiating a £30m package over five years on top of a £1m a year salary.