The Newcastle United owner has taken the job after Dave Forsey resigned from the firm
One In One Out At Newcastle United
Newcastle have confirmed the signing of striker Dwight Gayle from Crystal Palace, while Andros Townsend's departed Tyneside for Palace.
25 year old Gayle has agreed a five-year deal for a reported £10million transfer fee to become manager Rafael Benitez's second summer signing.
"It's a dream come true to be at a big club like this.
"Newcastle has a massive fan base and a great history so it is amazing to be here.
"I can't wait to get started, prove myself and score the goals that take us back up to the Premier League. It's where this club belongs.''
Gayle scored 26 goals in 74 appearances in all competitions for Palace since arriving at Selhurst Park in a £4.5million deal from League One side Peterborough in July 2013.
He began his professional career at Dagenham and had a loan spell at Bishop's Stortford and joined Peterborough in January 2013 following a temporary stint with the club.
"Dwight is a great player, a proven goalscorer, and it is fantastic news that he has joined us.
"He has a big personality, a lot of energy and pace. He is a good finisher also, so he will add goals to our squad, for sure.
"He knows English football well, too, and that is important in the Championship.
"I am sure Dwight will want to prove he can make a big difference to our team and I am looking forward to working with him.''
Newcastle signed goalkeeper Matz Sels from Belgian side Gent for an undisclosed fee on Wednesday.
Sels, 24, has signed a five-year contract after the two clubs agreed a reported fee of around £4.5million.
Newcastle are also understood to have met the reported £10million asking price for Bournemouth winger Matt Ritchie.
Meanwhile, winger Andros Townsend has signed for Crystal Palace for an undisclosed fee.
Townsend joined the Magpies from Tottenham Hotspur in January, and made 13 appearances for the Club, scoring four goals.
Newcastle United managing director Lee Charnley said:
"Naturally we are very disappointed to lose Andros but we are bound by the terms of his contract.
"Given our situation in January it was a condition of him joining that we included a buy-out clause. However, I am sure now with Rafa as our manager we will not be in a position whereby we will need to agree to clauses of this nature in the future.
"Despite Andros' departure today, we believe with the signings we have made this week we have strengthened the squad.
"Rafa and I are working very well together and we are confident we are building a squad that will meet our objectives for the season ahead of us.
"Finally, I would like to say Andros was a great professional during his time with us, who gave his all for the Club, and I wish him all the very best."
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