Liverpool has ended their search for a new managing director by promoting from within, confirming former commercial director Ian Ayre in the role.
Owners Fenway Sports Group, led by John Henry and chairman Tom Werner, have also made Damien Comolli the club's director of football - a step up from his position as director of football strategy.
The search for a managing director has taken longer than anticipated but Ayre's appointment is recognition of the impressive work he has done on the commercial side since he joined the club in July 2007.
Henry, who together with Werner has been on Merseyside since last Thursday, said: "Ian has enormous experience gained from his work in the sports and media businesses over the past 15 years."
FSG brought Comolli to the club in November in order to bring some continuity to football operations.
"In the short time that Damien has been at the club, he has impressed us greatly with his knowledge of the sport, his work ethic and his incisive intelligence," added Henry.
"He is a clear thinker and understands exactly what is needed to form a long-term, consistent approach."