Liverpool have appointed Christian Purslow as managing director with the brief of taking overall management of the club until a new chief executive is in place.
Purslow will represent owners George Gillett and Tom Hicks and liaise with manager Rafael Benitez on his summer transfer dealings.
'Tom and I felt that it was important to put a highly experienced and respected executive in place to run the club and support the senior team and the manager,' Gillett told the club's website.
'There's a lot to get done over the summer to build on the great season we just had and Christian will be a valuable addition to the team.'
Hicks added: 'Christian has been a great supporter of the club for many years and he's already built up good relationships at Anfield.
'His strategic and commercial acumen will be a real asset and we're delighted that he has made a long-term commitment to the club.'
Current chief executive Rick Parry is stepping down this summer, while former chairman David Moores quit the board last week.