Administrator Andrew Andronikou told Reuters the arrival of David Lampitt, a qualified accountant and member of UEFA's club licensing committee, showed Portsmouth could have a strong future.
"It demonstrates that we are building for the future. The calibre of the person coming in shows what we are trying to create at Pompey," he said.
"The club has been through some tough times this season and I intend to bring some stability and transparency to operations," Lampitt told the club website.
"Pompey have some of the best fans in the country and they deserve their great support to be matched by equally high standards of governance at the club."
"It is a great tribute to him that one of our oldest and most famous clubs should look to his expertise and personal character to bring it through a time of great difficulty," he said in a statement.
"Portsmouth's fans should take comfort in a wise, long-sighted appointment."
Portsmouth play Tottenham Hotspur, guided by the south coast club's former manager Harry Redknapp, in an FA Cup semi-final at Wembley on Sunday.
"There are clauses... that may result in them (the players) receiving additional sums of money under their contracts once they reach certain thresholds of games," said Andronikou.
"But we are talking to their agents and the majority of them, they are cooperating. I'm sure the players want to play for the club anyway," he added.
"It's just demonstrating the situation where we are really, we seem to be hamstrung in certain areas and need the goodwill of the players, which of course we are getting. They have been more than cooperative and very helpful to the cause."
"I am very much focusing on the FA Cup semi-final and see what happens thereafter but yes, we will obviously have to make some significant adjustments to the playing squad. That's something we will b
