Bournemouth have appointed Jeff Mostyn as chairman for the second time.
Eddie Mitchell stood down earlier in September
after he and his wife Brenda sold their 50% share in the club to co-owner Maxim Demin.
Mostyn previously had the role before the club went into administration in 2007 and was part of the consortium that turned it around.
"I'm absolutely thrilled," Mostyn told BBC Radio Solent. "I'm surprised and this came completely out of the blue."
Mostyn added: "It was a real privilege to have such a vote of confidence from the owner, the board and Eddie [Howe] and Jason [Tindall]. That meant a great deal to me."
Jeff Mostyn is the obvious choice to return to the chair of AFC Bournemouth, although he does so at a club which bears little resemblance to the one which he arrived at in 2006.
Bournemouth fans are of course grateful for the investment and progress under Max Demin and former chair Eddie Mitchell, but they're wary too of an era of boom and bust. Mostyn offers a connection with the past which can help keep the Cherries rollercoaster on the rails. Speaking to him recently at the club's new training ground, he was marvelling at the progress made under Mitchell's stewardship, and with the finances of Demin. He also knows that expectations and ambitions need to be carefully managed.
This is a man with strong connections in football, as a member of the FA Council and the FA Youth Committee. He's likely to be little more than a figurehead as it seems Demin, who's yet to make a public statement, is intent on staying in the background. The Russian is calling the shots at the Goldsands. Having Mostyn front of house is a no-brainer.
Businessman Mostyn first got involved with the Cherries in 2006 and more recently has been vice-chairman of the club.
But despite their troubles over the years, Mostyn has stuck with them throughout and now finds himself back at the helm.
"This club is in my blood," he said.
"When I first got involved in the club in 2006 and
then as chairman in 2007
the club was on its knees.
"To have been through everything I have been through - from administration to funding the administration when I could and should have walked away - I couldn't let the club die.
"We were resurrected with a clean bill of health. We've suffered 10-point deductions, 17-point deductions, relegation and promotions and the common denominator is I've been through it all and I'm very proud that I've never deserted the football club.
"I've honoured my commitments and done everything I can to support the club, owner and chairman."
Mostyn takes over as chairman with the club now in the Championship and owned by Russian businessman Demin - who has invested millions in the club both on and off the pitch.
And while Mostyn recognises the club have come a long way in such a short space of time, he says Demin is determined to take them further.
"The club is stable now," said Mostyn. "I spent the first 18 months looking for investment - it was all about survival.
"The club was in administration, we avoided liquidation and I was bold enough to put my money where my mouth was and solely funded the entire process to ensure the club survived and I look back at that as the catalyst for where we are now.
"His [Demin] intention is to push the club beyond where it is today. The demands will be high but the rewards will be great.
"My job along with the commercial department is to try to drive up revenue because Financial Fair Play income is a guide into how much we can invest into the football club."