The success of Pickering and Davies means that Howard Watkins, a member of the Board and the former WRU General Committee for much of the past decade, has lost his seat. He finished third, with another ex-Wales and British Lions star JPR Williams in fourth and Newtown's Dai Davies in fifth.
Pickering and Davies will now serve a three year term on the Board before having to seek re-election.
"I'm obviously delighted that my leadership has been given such a vote of confidence by the membership, although I also see it as an endorsement of the way in which the Board and the Executive Officers have performed in recent years," said Pickering.
"It is a great shame to lose Howard Watkins. He has worked tirelessly for the good of Welsh rugby during his time as Board member and I would like to thank him for his contribution.
"It will be good, however, to welcome such a world renowned rugby man as Gerald Davies onto the Board. In his letter to the clubs he said that he wanted to make a contribution to the game and I'm sure he will prove a major asset to us."
How the Clubs Voted
1. David Pickering 179
2. Gerald Davies 126
3. Howard Watkins 83
4. JPR Williams 34
5. Dai Davies 26