Former Hearts chairman George Foulkes has accused the Tynecastle club's majority shareholder Vladimir Romanov of "acting like a megalomaniac".
Foulkes resigned on Monday after chief executive Phil Anderton was sacked, their departures coming just 10 days after that of manager George Burley.
"Romanov is behaving like a dictator and if he continues there will be a revolution against him.
"I brought him in and very much regret that now," he told BBC Radio Five Live.
Foulkes also said he regretted not taking his current stance when Burley left the club and intimated that the former Hearts boss was actually sacked.
"Phil Anderton has only been there six months and has done a very good job - ask anyone in Edinburgh, ask anyone in Scotland," Foulkes continued.
"Not only were we top of the Scottish Premier League, our season tickets had doubled and we were planning ground expansion.
Robson has stated he would not tolerate interference on team affairs
"Now that he (Romanov) is the majority shareholder he seems to be acting like a megalomaniac and I really do find it astonishing."
Sir Bobby Robson has been linked with the managerial post at the club, but Foulkes believes events at Hearts may lead to the former England boss reconsidering his position.
"I'm still regretting that we were bounced into sacking George Burley. I think that was a very big mistake," said Foulkes.
"I know Bobby Robson was lined up as one of the front-runners, but I wouldn't be surprised if he was having second thoughts.
"I would have difficulty advising him. On the one hand, I want the best for Hearts and someone like Sir Bobby Robson would be extremely good.
"But, on the other hand, it would not be very easy for anyone working with Vladimir Romanov."
Foulkes insists that he will continue to attend the club's matches and, although Romanov helped save the club, hopes another saviour may succeed the Lithuanian businessman.
"I've still kept my season ticket and I'm going to be there on Saturday," added Foulkes.
"I think we should be there because Heart of Midlothian Football Club is greater than anyone and it's certainly bigger than Vladimir Romanov.
"I hope that someone else in the longer term might come in and take over. But, at the moment, Vladimir Romanov is the only option."
The secretary of the Federation of Hearts Supporters Clubs, John Borthwick, added: "We talked about Mr Romanov arriving like a knight in shining armour last season when we thought Tynecastle was going to be sold.
"But we now need him to explain what is going on and his plans for the future.
"We'd had record ticket sales, were unbeaten in 12 games before Saturday and the club was being marketed like never before.
"So when Mr Romanov says the chief executive had not delivered what was expected, what I would like to know is - what was expected?"
John McGlynn is in temporary charge of the Hearts side and has now been left bemused by recent events.
"I'm shocked and stunned and at the moment I don't know how it's going to impact on me," he said.
"It's hard to take in. Phil seemed to be the one who was trying to get a new manager in.
"That's what we were led to believe he was doing. But where does that leave us now?"
Hearts were top of the SPL when Burley left but are now second on goal difference.