Liverpool have appointed Christian Purslow as the club's new managing director.
Purslow will assume overall management of affairs at Anfield until a new chief executive is brought in, when he will then continue as a board director.
He will oversee all financial and operational aspects of the club, working with Rafa Benitez on player transfers, as well as representing co-owners George Gillett and Tom Hicks.
George Gillett told the Reds' official website: "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.
"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."
Purslow is a long-time season ticket holder at Anfield and is an executive board member of MidOcean Partners, a private equity firm he helped co-found.