New executive officer i Arsenal

If ever there's a time for increased boardroom stability, it's now. Arsenal have been rocked by a form dip and a captaincy row which ended up with Cesc Fabregas taking the armband from William Gallas.

Add to that the shocking current financial climate, persistent rumours of an impending Arsenal takeover and the fast-approaching January transfer window and you understand the need for a new chief executive.

Thus, the club have appointed Ivan Gazidis in the role. Gazidis, 44, is currently the Deputy Commissioner of Major League Soccer, but has agreed to switch to the Emirates Stadium and will arrive in the New Year to belatedly replace departed vice-chairman David Dein, who had a similar role.

Gazidis also has experience of working on a global scale from his time heading up the innovative Soccer United Marketing between 2002 and 2006.

Arsenal Chairman Peter Hill-Wood confirmed via the club's official website: "Ivan’s credentials are first class. It is evident that he has a wealth of business acumen, together with a broad knowledge of football that will not only help to maintain Arsenal’s pre-eminent standing, but enhance our reputation within the football community and international commercial markets."

Ivan Gazidis himself stated: "I have been privileged throughout my 14 years with MLS. Now, I am delighted to be offered the opportunity to bring my experience to Arsenal - a club rich in heritage and tradition - that is superbly positioned for success in the modern era. I relish the prospect of working with the key stakeholders to further propel the club forward."

The chief exec saga was in danger of dragging on. The Gunners were rebuffed by Celtic CEO Peter Lawwell in September, with talks reportedly also breaking down with Vodaphone beak Paul Donovan and former Charlton chief executive Peter Varney.

The position is rumoured to be worth in excess of £1 million per year.