Grayson was unveiled as boss just 90 minutes after Pools confirmed the sacking of Anthony Limbrick on Thursday night.
The manager swap comes amid ongoing uncertainty surrounding the club’s future, but chairman Raj Singh says Grayson has been appointed “for an initial two-year period”.
The 55-year-old’s last role in management was in Nepal, which followed a spell in India. The much-travelled boss has managed seven English clubs before taking charge at Pools, winning promotions with Preston, Huddersfield, Leeds and Blackpool. His spell in charge of Sunderland was short and disastrous, losing his job after just 18 games in charge in 2017, when the Black Cats were sitting 22nd in the Championship. They went on to suffer relegation.
Grayson has been linked with Pools on several occasions in the past, and Singh says he’s delighted to finally land his “preferred candidate”.
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Pools say an update on Grayson’s backroom staff will follow in due course.
Singh said: “I’m delighted that Simon has accepted the role. Simon is someone who has been on our radar for a while and he’s been my preferred candidate in the past when we’ve looked for managers, but for one reason or the other it didn’t come off.
“He comes with vast experience including promotions in EFL.
“The board unanimously decided to go for Simon and it’s great that we’ve been able to secure him for an initial two-year period. We’re all looking forward to the working with him. That work starts immediately as we look to build a squad that pushes for promotion next season.”
Grayson said: “I really happy to join Hartlepool United FC . The club has gone through some tough times recently but by working hard together as a staff and fanbase we can bring back the good times which this football club deserves.
“Hartlepool is a club with real potential and I’m excited by the prospect of what we can achieve here. I can’t wait to get started.”
Limbrick won five of his 17 matches in charge, managing the club through a turbulent period at the end of the campaign amid off the field uncertainty.
After his sacking, Pools said in a statement: “We’d like to thank Anthony for all his hard work and efforts from during his time with the club and wish him all the very best for the future.
“All board members were consulted and it was decided that a change was needed.”