Malcolm Noad's replacement as chief executive of the Bulldogs is set to come from outside the club - a decision that all but rules out Graeme Hughes's chances of securing the job.

With the ticket of former players and rebel directors headed by Hughes sweeping to power at last week's board elections after a bitter campaign that focused on Noad's alleged inadequacies, the former NRL chairman and News Ltd executive finally announced his resignation ahead of last night's inaugural meeting of the new directors.

It was a decision Noad had made almost as soon as the result became clear, with Bulldogs chairman George Peponis receiving a text message from him at 2.42pm on the day of the AGM offering to quit.

The votes had been tallied less than an hour earlier. But after being asked to reconsider by Peponis, who canvassed the majority of directors seeking support for Noad, he waited until last Sunday before formally tendering his resignation.

It is understood that Noad, whose contract - reportedly worth $400,000 per year - was due to expire in December, will receive a financial settlement when he officially leaves the post next month after overseeing the club's move from Belmore to Homebush Bay next week. He will also stand down as a Bulldogs director and secretary to the board but whether he intends to remain as one of the four elected football club representatives on the seven-person Canterbury Leagues Club board was last night unclear.

Noad and deposed football club director Barry Phyllis were set to be asked to relinquish their positions on the leagues club board or face another vote at an Extraordinary General Meeting of members.

The biggest question now facing the new football club board is how to fill the various positions held by Noad. The Herald was told no director would be considered for the CEO's job, putting paid to any aspirations that Ray Dib or Paul Dunn might have.

Hughes, who was the only member of the rebel ticket not elected to the board, yesterday refused to comment on speculation he covets Noad's job. Peponis said after last night's 4½ hour board meeting that the position would be advertised.

"We're looking for the best person available so we will consider all applications from inside or outside the club," Peponis said. Asked earlier about the possibility of Hughes becoming CEO, he said: "I think that's probably something that's way out there at this stage so I'm not even going to consider that option. We've got no one in mind."

With Peponis involved with Noad in legal action against Hughes over comments the radio broadcaster made in the Herald last year, it would seem an unworkable situation. The results of the board election suggest Hughes isn't popular with many Bulldogs members and supporters.

But he could yet get on the board if the directors decide to replace Noad with the next highest-polling candidate at the AGM - a dead heat between Hughes and Mark Byrnes.

"I think that would be a decision for the board," said Hughes, who predicted that Noad's "resignation will allow the club to go forward".

Exactly why he was the subject of so much hostility remained a mystery to Noad yesterday, but the members had made it clear they wanted change.

"It's one of the things I'll probably walk away wondering - I'm not really sure," Noad said. "The campaign that the majority of the new board members waged was about the need for change, and I don't think that they would be able to make the changes they want with me there. They deserve the opportunity to make whatever changes they want unencumbered by the existing CEO."

Noad did, however, throw his support behind coach Steve Folkes, who is also off contract at the end of the season. Folkes attended the press conference to announce Noad's resignation, but his presence - noted when his phone rang and the tune Who Let The Dogs Out played loudly - did not stop reporters asking about his future. It is understood that the board has agreed not to consider any other candidates for the job, including Wayne Bennett, until a decision has been made on the fate of Folkes.

The fall of the top Dog

May 29, 2007 Plans emerge to overthrow Noad, and coach Steve Folkes if necessary.

November 30, 2007 A ticket of former players formally nominates to contest the board elections, with ousting Noad one of their key objectives.

February 17, 2008 The anti-Noad ticket sweeps to power at the Bulldogs AGM.

February 24 Noad formally tenders his resignation.

STARS LOST UNDER NOAD

2004 Steve Price (Warriors), Johnathan Thurston (Cowboys).

2005 Braith Anasta (Roosters)

2006 Roy Asotasi (Souths), Nate Myles (Roosters).

2007 Mark O'Meley and Willie Mason (Roosters), Brent Sherwin (Castleford).