Liverpool managing director Ian Ayre says they will take their time to find Kenny Dalglish's replacement.
Dalglish was sacked by the Reds yesterday.
Ayre told Liverpool's official website: "Whether it was the board of Liverpool recruiting Bill Shankly many years ago or the recruitment of Kenny Dalglish 18 months ago, it's the same process.
"The board will create a criteria of what that manager should look like and we'll match that with the best possible candidates and make a decision on that basis.
"That (the time frame) will be dictated by finding the right candidate of the right quality.
"What we want is the best, what we don't want is to choose quickly or choose because there's a time pressure. It'll be about finding the right person who can do the best job for Liverpool Football Club."