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Port Adelaide have announced Matthew Richardson as the club's next CEO, replacing Keith Thomas who finishes up this week after more than nine years in the role.

Matthew Richardson has been announced Port Adelaide's new chief executive officer at the club's annual best and fairest awards event at Adelaide Convention Centre Thursday night.

Richardson, who has been at the club since 2001, will replace outgoing CEO Keith Thomas who finishes up this week after more than nine years at the helm.

"This is arguably the most important appointment of any club. It's one never to be taken likely. It is a huge responsibility," Power chairman David Koch said.

"I must admit I initially wanted someone from outside the club to fill the role. Richo knows this.

"But no candidate we spoke to ever seemed to have the all-round package that Richo brings. I was always sub-consciously benchmarking them against him."

Koch praised Thomas for leaving such a well-rounded successor, saying it was the mark of a good leader, outlining some of the achievements since his appointment in August 2011.

It includes appointing Ken Hinkley as coach and Travis Boak as captain, overseeing the One Club strategy to reunite the SANFL and AFL arms of the club, and launching both the competition's first Aboriginal AFL Academy and women's Aboriginal AFL Academy.

Koch said Thomas had also guided the club to the redeveloped Adelaide Oval, helped them surpass 60,000 members for the first time, and taken Port to China to play for premiership points.

Richardson takes on the new role on Monday November 2.