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Chris Mort has replaced Freddy Shepherd as Newcastle United PLC chairman with immediate effect.
Mort had been deputy chairman following the takeover of the club earlier this summer by St James Holdings Limited and been in charge of running the business on a day-to-day basis.
Shepherd, who had been chairman for the past 10 years after succeeding Sir John Hall, helped bring the likes of Michael Owen to the club along with sacking Bobby Robson.
Mort felt that will the new season approaching the time was right for a new man to take control of the prestigious North East outfit.
"I am delighted to become chairman of such a fabulous club," he told the club's official website.
"Since arriving at St. James' Park I have been hugely encouraged by the warm welcome I have received from so many supporters.
"The strategic review of the club is going well and, with the new season fast approaching, we feel the time is right to make the change.
"I would like to thank Freddy Shepherd for all he has done for the club over the last 15 years."