Mick Harford has been named Luton manager for the rest of the season, after Kevin Blackwell was sacked by the club's administrators.
Harford is a Luton legend from his playing days
Harford, who scored 93 goals in 217 appearances in two spells at the club, will be assisted by QPR and Portsmouth defender Warren Neill.
"I look forward to working with Mick and Warren," said Luton's administrator Brendan Guilfoyle.
"Their appointment is another positive development for the football club."
Blackwell was sacked on Wednesday less than 24 hours after Luton's FA Cup third-round replay against Liverpool, and the day after a consortium led by television presenter Nick Owen secured a deal to buy the club.
He had already stated his intention to step down next month as he was unhappy at the way the administrators had sold players without informing him, and said news of his sacking did not come as a surprise.
"I said after the game against Liverpool I didn't know what the future held because no-one was speaking and letting us know what was going on," he told BBC Radio 5 Live.
"That was a major bone of contention for the last couple of months.
"You just have to get on dust yourself down and start all over again and that's exactly what I will do."