Woodward's appointment as CEO coincided with a woeful campaign for United as they relinquished their Premier League crown and missed out on European qualification.
Having sacked Alex Ferguson's successor David Moyes after less than a year in charge, Netherlands coach Louis van Gaal is expected to take the reins from interim boss Ryan Giggs following the FIFA World Cup in Brazil.
And Woodward stated the club expect to be busy in the transfer market, having signed just two first-team players during Moyes' reign - Marouane Fellaini and Juan Mata.
"We are now focused on bringing in a new manager who will help Manchester United return to the top of English football and challenging in Europe," Woodward told New York Stock Exchange analysts.
"We expect to make an announcement (on the new manager) in due course.
"In the meantime, we continue to be active in the transfer market. The club's expectations - and you'll see this reflected in the transfer market and what we've recently done from a managerial perspective - our aim absolutely is to get back into the Champions League.
"We will be active in the transfer market. The window is upon us and deals are 'being done' but not 'been done' in terms of the past tense so there's nothing announced.
"It's really something you're just going to have to wait and see as we go through the window."
Woodward confirmed on Thursday the club enjoyed a 60 per cent jump in third-quarter profits, thanks partly to a huge rise in broadcasting revenue this season.
However, the club will miss out on more than £30 million due to their lack of European football next term, according to the United CEO.
"Due to the relatively high broadcasting revenues in fiscal year 14, we estimate that the isolated impact on fiscal year 15 of not qualifying for European football will be in the mid 30 millions of pounds," he explained.
