Farhad Moshiri has today insisted his commitment to Everton will "not waiver".
The club's majority shareholder also confirmed his intention to take his stake in the club to over 94% by buying more shares.
Moshiri, in an open letter to supporters, says while he is "keen" to find a replacement for the sacked Rafa Benitez as soon as possible, the club must find a coach that fits the "structure" Everton are going to put in place, with a strategic review on-going.
"The money that has been spent since 2016, not just on the playing squad but also on key projects including our new stadium, demonstrates my commitment to Everton," he writes.
"I write to you to assure you that my commitment remains strong and focused. The club has announced today the conversion of a £100m loan to the club into equity which is a clear demonstration of my commitment and greatly strengthens the balance sheet.
"I am a private man and I do not speak publicly very often. But I promise you that my determination to deliver for Everton will not waiver."
Moshiri added: "The strategic football review that is currently ongoing will ensure we have the best model in place moving forward.
READ MORE: Farhad Moshiri set for improved stake in Everton as £100m plan confirmed
LIVE: Everton manager latest - Rooney situation, Cannavaro stance, Lampard waits
READ MORE: Everton 'tipped to sign' four players in January transfer window
"I am working closely with the Chairman and the Board as part of that strategic review - and I can assure you the recruitment process for a new manager is aligned to that.
"It is vital we appoint a manager that fits the structure we are putting in place and so, whilst we are keen to make an appointment as quickly as possible, we will work together to ensure it is the right candidate to deliver the success we all crave."
Moshiri sacked Benitez on Sunday after the club slumped to a run of just one win in the last 13 Premier League games.
The majority shareholder insists he shares the frustration of all connected with Everton after a succession of disappointing seasons despite "significant investment" in the squad.
"It has been a difficult season to date - with results not meeting the expectations of anyone associated with the Club. As a result, the decision was taken last weekend to part ways with Rafa Benitez as our manager," Moshiri writes.
"After a very disappointing run of results, it was the right decision for the club – although it is never one that is taken lightly.
"As we prepare for our forthcoming games, we have a fiercely passionate Evertonian in Duncan Ferguson taking charge of the team on an interim basis.
"He is a remarkable man and I know he will give his all in leading the team, as he did so impressively during his spell as caretaker boss in December 2019.
"I understand the frustration felt by everybody who loves Everton because of our inconsistent form in recent seasons, despite significant investment in the playing squad."
