Reports today say that Derek Bowden, the former European, Africa and Middle East chairman of Saatchi and Saatchi, is likely to be named Town's new chief executive. The club are set to make an announcement regarding the £100,000-a-year plus position before the beginning of the new season.
David Sheepshanks revealed at the club's AGM in December that a new chief executive would be appointed this summer.
Previously, former Watford chief executive Howard Wells held the position, but left the club to pursue personal projects in July 2000, just seven months after being appointed.
Since then Sheepshanks has fulfilled the role, but feels a new man is required to reduce his work-load. The Town chairman was unpaid for his work at the club up until last year when he received £375,000.
Bowden is understood to be on a short-list drawn up by the club. The 45-year-old resigned his position at Saatchi and Saatchi last September. Current FA chief executive Adam Crozier is another former Saatchi and Saatchi executive.