David Gold, the West Ham co-owner, insists the club will not be rushed into appointing a successor to Avram Grant.
Grant was sacked shortly after Sunday's 3-2 injury-time defeat at Wigan Athletic, a result that confirmed the Hammers' relegation.
Kevin Keen, the first-team coach, has been placed in temporary charge for the final game of the season against Sunderland.
"The sooner the better because we have a lot of work to do but we mustn't be rushed," Gold told Sky Sports News.
"We're choosing a manager good enough to get us out of this division [the Championship] and capable of continuing once we've achieved that."
Meanwhile, England has been granted an additional place in next season's Europa League via the Uefa Respect Fair Play ranking, meaning an extra English team will appear in the competition's first qualifying round next season, with Fulham the likely beneficiaries.
They currently head the Premier League's domestic fair play table and are the only team not to have had a player sent off this year.
Elsewhere, Uefa have dismissed allegations made against Sergio Busquets that he racially abused Real Madrid's Marcelo, allowing the Barcelona midfielder to play in next week's Champions League final against Manchester United.