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|Oleg Petrov sat at club president Dmitri Rybolovlev right hand as Monaco beat Nantes on Feb 16. (Photo: AFP/Yann Coatsaliou)|
Petrov, 55, is a friend of Monaco's Russian billionaire owner, Dmitri Rybolovlev, but has no experience of running a football club.
A fluent English, Portuguese, Spanish and Greek speaker as well as his native Russian, Petrov has worked in large international companies in several sectors, including consumer electronics, fertiliser and diamonds.
Monaco said in a statement: "He has extensive experience in operational management and brand development in global markets."
Petrov will likely need all that business acumen as he joins a club who have endured a difficult season.
French champions and Champions League semi-finalists in 2017, Monaco have since sold most of their prized assets and currently lie just above the relegation zone in 16th place.
The decision to sack title-winning coach Leonardo Jardim in October and replace him with Thierry Henry backfired spectacularly, with the Arsenal and France legend lasting just three months before being fired. Jardim was then brought back for a second spell.
"After our recent difficulties, these changes should help Monaco return to winning ways," said club president Rybolovlev.
"Our priority today is to focus on a strong finish to the season and to do everything possible to strengthen the position of the team."