"Tom Hicks and I felt that it was important to put a highly experienced and respected executive in place to run the club and support the senior team and the manager," he said.
Co-owner Hicks added: "Christian has been a great supporter of the club for many years and he's already built up good relationships at Anfield.
"His strategic and commercial acumen will be a real asset and we're delighted that he has made a long term commitment to the club."
Purslow is an executive board member and co-founder of private equity firm MidOcean Partners.
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