Nathan Buckley will stay on as Collingwood coach, having secured a two-year extension.
Buckley, president Eddie McGuire and football manager Geoff Walsh fronted a press conference on Monday morning.
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Pies hand Demons nervous wait
Nathan Buckley picked up his ninth win this season on a shocking day for Melbourne. Jesse Hogan injured his hamstring and the Dees now risk missing the finals after a 16-point loss.
Buckley said he had woken up to the news of his contract extension and was "humbled and a little bit nervous".
McGuire said the club acknowledged its shortcoming and knew what it had to do to return to the top. The Pies have missed the finals for four-straight seasons.
"We have seen the way this list plays for Nathan. He is a man of the highest integrity, he has compassion for his players on and off the field, he is uncompromising in his commitment to the role and we believe he is taking this group in the right direction," McGuire said.
"As a club we instigated a list rebuild following our 2013 campaign and Nathan has been exemplary in his commitment to developing the young talent brought on to our list and creating a team-first ethos that we believe will take us back to where we want to be as a club.
"The club has taken the One Collingwood blueprint process very seriously and the board took time to consider all the information presented at our meeting on Tuesday night. With the benefit of that in-depth report we, as a board, believe Nathan is the right person to lead this club forward."
Speculation around Buckley's future has been rife this season but improved form in recent weeks has eased pressure on the coach.
It's understood Derek Hine will survive as part of a restructured list management and recruiting department.Â
The Pies held a board meeting last Tuesday where Walsh tabled his preliminary report after his far-reaching review of the football department. Buckley was told on Sunday night that he would be reappointed. The board had earlier ratified Walsh's recommendation.
"I'm rapt to be supported in the role. I woke up this morning to the news and I was suitably humbled and a little bit nervous, to be honest. I've always had a really strong understanding of what's going to happen and how it needs to be," Buckley said.
"The facts are we've got some work to do and I'm rapt at … the recommendations from the review that was run through the club by [head of football] Geoff Walsh and [interim chief executive] Peter Murphy."
McGuire and his board members needed time to digest the report's findings, which meant Buckley went into the final round of the season not knowing if he would keep his job.
A club great, Buckley has been at the helm since 2012 and has been under immense pressure this season. The Pies finished 13th on the ladder, beating the Demons in the final round to effectively end that club's finals hopes.
The report from Walsh is one of three internal reviews at the underperforming club. The remaining two reports, into the club's governance, and a wider look at where the club is heading in terms of its football, netball and community programs, will be tabled soon.
McGuire said he had "never felt more buoyant" about the Magpies than he does now.
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