Mandaric and Zajec will jointly decide the next coach
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Portsmouth chairman Milan Mandaric is planning to appoint a head coach by the end of April with Velimir Zajec moving back to his role as executive director.
Zajec has been in charge of first-team affairs with coach Joe Jordan since ex-boss Harry Redknapp left the club.
"Velimir has compiled a short list of individuals - I will join in the latter stages of this when he is close to deciding the right man," said Mandaric.
"This man will have a proven track record in top-flight football."
Former Southampton manager Gordon Strachan has been strongly linked with the post and ex-Chelsea manager Claudio Ranieri has also been touted as a possibility after his sacking by Valencia.
Mandaric added: "We hope to have him in place before the end of April.
"We want this so the guy can have input into the quality players we will be in for during the summer.
"These will be young players with an appetite to play for Pompey, which also gives them a service of longevity that bodes well for the future."