A source said the new 35-member executive would be unveiled on Thursday at the earliest. The party agreed to allow the new executive to decide what to do about the election at its annual general assembly on Tuesday.
The new executive will work closely with outgoing members, but the final call on how to handle the Feb 2 election will rest in their hands, the source added.
The Pheu Thai Party is urging all parties including the Democrats to allow voters to decide on who should run the country to end the political impasse.
Abhisit Vejjajiva was re-elected party leader. He was not challenged. He proposed Juti Krairiksh replace Chalermchai Sri as secretary-general of the party.