Melbourne has announced board member Dan Taylor as the new CEO of the club.
The position was vacated yesterday after Paul Guerra was moved on, only seven months after he began.
President Steven Smith said the decision to remove Guerra was "unanimous" on Wednesday.
"When you get to a point where you're clear that you don't have confidence in your CEO to lead the club, you need to break that, and make strong, hard decisions. And we think the hard decision was to do it now, not at the end of the year," Smith said.
"It was not one particular reason. It was a general lack of confidence, and a breakdown of relationships with the board.
"The last couple of weeks it came to a head. The board met yesterday to consider the position, and basically it was unanimous decision to remove Paul as CEO.
"We approached Dan a week or two ago, to get a sense on whether he'd leave Stan. I approached Brian a week ago.
"We've had 15 to 20 new people appointed in the last six to 12 months, and sometimes, you get one wrong. We got this one wrong, and it's time to move on."
Smith said that the Demons should've been clearer with the messaging over the past two weeks.
"Everything we do as a board is to ensure that our AFL coach Steven King, and our AFLW coach Tom Wilson, and the entirety of the footy club are in the very best position to succeed sustained success on and off the field," he added.
"We remain entirely committed to securing a new home in Caulfield, and we'll work with all stakeholders to make that a reality."
Smith insisted that Guerra's lack of a football background played no part in the decision to remove him from the club.
He also said that Cook will be a mentor to Taylor.
Cook said that a lack of experience in the football area prevented Guerra in becoming a great CEO.
"Very few CEOS from outside football have been successful," he said.
"And that's why I was brought in."
"I am honoured to be appointed as the CEO of the Melbourne Football Club," Taylor said.
"The club has a proud history and clear ambition, and I look forward to working with the Board, Executive team, staff and players to ensure its ongoing success."
"This is a special opportunity. I can't wait to get started."
Brian Cook will hold the CEO title in the interim until Taylor takes over in the after his three months notice at Stan.
Melbourne told players of the decision on Wednesday who were "puzzled" by the decision.
