Preston chairman Derek Shaw has urged Billy Davies to decide on his future.
Davies met with the Charlton board on Monday
Davies was interviewed by Premiership club Charlton on Monday for the vacant manager's position at The Valley - which was vacated by Alan Curbishley.
It remains to be seen whether he will be offered the job, but Shaw told the Lancashire Evening post: "I am waiting to hear what is going on.
"It is not good for the club or fans for it to be dragging on day after day - we need to know what we are doing."
The Preston chairman added: "Of course it is frustrating, very frustrating. We would like to get it sorted out as soon as possible.
"But we have not given Billy a deadline. All he has told us is he is thinking over certain things from the meeting he had with them.
"He is talking with his family and deciding the next move. We will all know in due course, but obviously the sooner the better from our point of view."
Peter Taylor ruled himself out of contention for the position at The Valley after meeting the board earlier this month.