Thompson does not officially leave the club until May 20 but confirmed that manager Gary Megson would now be reporting to Peace with immediate effect.

Thompson is leaving the Hawthorns 10 months early following a much-publicised dispute with boss Megson.

At 44, Peace is the youngest director at Albion, and it is understood that he and Megson have a good relationship.

Thompson said: "We will have a lot of things to tie up in the next two weeks before a new chairman is installed.

"It is possible that the appointment will come from outside, but it's also possible that Jeremy Peace will be interested in the job.

"At the moment, Gary Megson will be reporting to Jeremy Peace.

"The manager appears to have said that he is definitely staying at the club and I see no reason why he shouldn't want to stay.

"He can sleep well at night, knowing that I've gone," Thompson told the Birmingham Post.