Reading chairman Sir John Madejski says the club has entered a period of "reflection" after the departure of former manager Brendan Rodgers.
Sir John told BBC Berkshire there will not be a rush to find a successor.
He said: "We've appointed Brian McDermott to take over the first team and we have got Nick Hammond as director of football.
"We have a wealth of staff here. We're not going to make any rash decisions about anything."
Sir John described his mood as "sombre" after parting company with Rodgers.
He said: "I never make a unilateral decision, I always take my board with me.
"We are one point off relegation and it's not where we want to be. Brendan's a really decent guy, there was no acrimony when he left.
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"He knows the game, as we all do, the results just didn't go his way therefore we felt we had to move on."
The chairman suggested that Brian McDermott might be given the role on a more permanent basis.
"He managed our reserve team for two years and did terribly well during our two golden years in the Premiership.
"He's been here for 10 years and knows the club inside-out. He is a very good motivator and a very good person.
"We have a good squad, we brought in seven new players in the summer - we have one of the biggest squads in the division.
"Now we have to reflect and see what happens next."
Sir John also revealed there had been plenty interest in becoming Reading manager even before Rodgers left.
"For the past few weeks we've had applications flying through the door left, right and centre," he added.
"We are putting them to one side for one moment because we're concentrating on the short-term.
"This club has seen high times and low times. At the moment, things aren't so good, but I hope we can get back to the good times once again.
"We're a community club and I want all the fans to get behind the team and the decision we've made and we can all move on together."
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