Lee has previously played and managed Torquay and returned to the club in February as director of football. At the beggining of May he was made redundant by the previous owner Mike Bateson, along with manager Keith Curle.
Leroy Rosenior was given the manager's job, but the club was sold 10 minutes after the official announcement of his arrival. Rosenior was quickly dismissed when Rowe and his consortium made their approach.
Lee was linked with being part of the consortium, and then the next manager but the club have now revealed his role will be Chief Exec, with the brief of getting the club back to the Football League.