Panthers set to announce new CEO

Penrith are reportedly set to announce former Canterbury forward Corey Payne as the NRL club's new chief executive.

Payne is set to replace Justin Pascoe, who last year left the organisation to head up the Wests Tigers, according to Fairfax Media.

The 31-year-old is set to become the youngest CEO in the game and is expected to be unveiled on Friday.

Payne played 131 games during an eight-year career that included stints at St George Illawarra, Tigers and Bulldogs before retiring at 28 to pursue business interests.

He graduated with a Bachelor of Commerce from the University of Sydney and is currently working in a managerial role at Woolworths head office.