Ann Budge wants a "very experienced and high-profile" appointment, as the search to find a new manager continues.
Austin MacPhee has taken temporary charge of first team affairs after Craig Levein was relieved of his duties last week.
Speaking about the search, and the rumours surrounding the vacant position, the chairman said: "It will take as long as it takes to appoint a first-team manager. I am in no hurry, I have no one person in my sights.
"We have to compete with the top clubs in Scotland and to do that we want a very experienced and high-profile manager.
"I want to go through the process rigorously and thoroughly and explore a lot of avenues. The net will be cast quite wide."
Looking closer to home, Ann also refused to rule out the possibility of Austin MacPhee taking the role on a permanent basis.
"He's definitely a contender. He's got a huge amount of experience. I'm not ruling Austin out. He knows what he's got to do to strengthen his case and he'll be working hard to do that."
Ann also confirmed that the club will be appointing a sporting director, whose arrival may also be imminent.
"Running the whole football operation is too big for one person. It is important we have a manager who can focus on the first team. We will make an equally senior appointment as a sporting or technical director.
"I would like to appoint the sporting director soon, hopefully before the new manager.
"We have not had a consistent style of play, but that is what we set out to have. Where we are at the moment though, the short term objective is just to climb the table."
Ann's full press conference is available to watch for free on HeartsTV, by clicking here.