MELBOURNE has named Cameron Schwab, one of the most respected and longest-serving administrators in the game, as its new chief executive.

Schwab replaces interim chief executive Peter Spargo (who will remain on the board), after he filled in following the departure of former tennis ace Paul McNamee, who was dismissed after less than four months in the top job.

Club president Jim Stynes made the announcement at the MCG on Monday, saying it was a very exciting appointment.

"As a board, we've been really impressed with Cameron's management credentials and his experience in turning a football club around. We also appreciate his drive and passion for the club," Stynes said.

"We're convinced this club needs someone like Cameron Schwab and as we said at the beginning, we wanted to find someone that had a good business understanding to take this club over."

Although Schwab said it was a position he didn't accept lightly, he was comfortable with it.

"I found so much of my own heritage was tied in this football club. So when it came to actually making a decision … it was actually making sure that I felt strongly about what the club could actually achieve," Schwab said.

"What Jim's been able to do – and the board have been able to do – is bring hope back to the organisation.

"Hope is the most important thing any football club can have and it's now my job to match hope with building expectation and ultimately performance as a club and performance is reflected in all areas."

Schwab started his career in administration with Melbourne as an 18-year-old. He then became the youngest ever AFL club CEO when he went to Richmond at just 24.

Schwab then returned to Melbourne from 1997-99 and most recently was Fremantle's chief executive, where he inherited an $8 million debt and a membership base of 12,000 seated members.

But since joining Fremantle in 2001, Schwab has overseen five consecutive $1 million profits and the third highest membership base in the competition.

After stepping down as Fremantle chief executive earlier this season, Schwab said he hadn't got his head around to what he actually wanted to do next.

But when asked if the time he had taken to make the decision was a sign of not wanting the job enough, Schwab said adamantly: "Those people don't know me very well – I'll be giving every bit I can to help this footy club."

Schwab said re-establishing his contribution to the club was instrumental in taking on the role.

"I started my working life at this club over 25 years ago by knocking on the door at Jolimont Terrace.

"[I was] working with some fantastic people at that stage, who certainly played a major role in shaping me and I've had some of the best times in my working life – being part of the first finals series the club had [since 1964] in 1987.

"But it's also had some of the most difficult and challenging things I've ever had to face in my working life as well – it's a great honour, it always was and always is, a great honour to work for Melbourne.

"I'm very proud of the fact that the board's showed the faith that it has to give me that opportunity again and I look forward to playing that role I need to play – it's not a challenge I take lightly."

Stynes also thanked interim chief executive Spargo, who remains on the board.

"He's done an amazing job as a fill in CEO and he'll continue to do that until Cameron comes on board in early October," Stynes said.