Working with Herath would benefit Ajaz Patel, Mitchell Santner and Rachin Ravindra, said Stead.
Oram will commence the role vacated by Shane Jurgensen towards the end of last year on October 7, with New Zealand's three-match ICC World Test Championship series in India the first assignment for the 46-year-old.
Latham spoke to reporters on Wednesday as New Zealand Cricket released its summer schedule, which starts with a three-test series against England in November before white-ball series against Sri Lanka and Pakistan.
Williamson's decision marks the end of an era for a New Zealand team which made the semi-finals of the previous three T20 World Cups and the 2021 final but ultimately missed out on a maiden white-ball title.
Having made at least the semi-finals of the last three editions, New Zealand crashed out in the opening round this time.
Stead, who took over as New Zealand coach in 2018 and led them to the 2021 final, has a year left on his contract.
The 37-year-old lefthander's last international was a T20 match against India in 2020 -- but he had long hoped to claw his way back into the squad.
Kane Williamson will captain the T20 World Cup squad for a fourth time as New Zealand hunt for a maiden title after reaching the semi-finals of the last three tournaments and the final in 2021.
New Zealand all-rounder Rachin Ravindra became the youngest player to win the Sir Richard Hadlee Medal, the highest award for men's cricket in New Zealand, on Wednesday.
Kane Williamson and Martin Guptill combine in a clinical display of poise and timing on their 171-run opening stand, the highest ever for T20Is, to chase Pakistan's 168.
Let’s revisit the best seven ODI matches at Sher-e-Bangla National Cricket Stadium when Bangladesh cricket and the country itself saluted the sweet taste of success.
Daniel Vettori has confirmed his retirement from international cricket, declaring that the World Cup final against Australia was his last game for New Zealand.
Brendon McCullum becomes the first captain to be dismissed for a duck in the world cup finals' history, an awkward distinction for the Kiwi skipper.
ICC Cricket World Cup 2015 has been a record-breaking tournament and has cemented the event’s position as one of the most popular sporting spectacles in the world
It is not merely size that will be foreign to a New Zealand side that has not played in Australia, let alone the MCG, since 2011.
New Zealand are electrifying, but Australia are clinical at home. The visitors are unbeaten, but the hosts have big-tournament pedigree
Two of the best teams of the ICC Cricket World Cup 2015 locking horns tomorrow for their maiden trip to the finals.
Catch a glimpse of the best moments of the 4th quarterfinal of the ICC Cricket World Cup 2015 at Wellington where New Zealand locked horns with West Indies
Martin Guptill of New Zealand whacked his bat through the cricket record book today to become the highest scoring man in a World Cup match.