Former Chelsea & Leeds Chief Executive Trevor Birch will take over from Micheal Dunford this summer, with the Everton board hoping that his proved negotitation skills can help Everton gather funds for squad improvement.
The former Liverpol player oversaw the takeover of Chelsea by Roman Abramovich a year ago, and kept Leeds United afloat when all looked lost.
It is hoped that he will increase Everton's transfer budget, which currently stands at around £5m.