If a week is a long time in politics, it can be a lifetime in the NRL.

Seven days ago Steve Georgallis was mulling over his future, weighing the option of uprooting his young family and moving to the UK to take up a role with a Super League club.

With Penrith coach Matt Elliott told by the club in April his contract would not be renewed at the end of the season, assistant coach Georgallis was preparing to follow him out of the door at Centrebet Stadium.

But after last Saturday's dismal 16-12 defeat by Newcastle, Panthers general manager Phil Gould had seen enough.

Elliott was relieved of his duties early on Monday morning and a shocked Georgallis handed the reins, with Gould giving the former Sydney Roosters and Western Suburbs playmaker until the end of the season to win the role permanently.

"I've always strived to coach in the NRL, but I didn't think I would get it this way and here," Georgallis told AAP.

"I thought when Matty was told he was no longer wanted that I'd have to go to another club and start all over again.

"When a new coach comes in they usually bring their own staff, so I just assumed I would be on my way out.

"I had a bit of interest from the UK, but Gus had always said he wasn't sure what he was going to do for next year, so I was hoping and waiting around to see what would happen at Penrith. And then out of the blue Monday popped up.

"I was called into Gus' office at 7.30am and walked out at 7.35 as the interim head coach."

Georgallis heaped credit on Elliott for helping him get the chance go for the job and said the former Canberra coach has been instrumental in his progress.

"Matt always said that him succeeding as a coach was as much about getting the best out of myself ... as well as the team," he said.

"From day one when he found out they didn't want him there, he told the board I was good coach and that I should be given a chance, and I really thank him for that.

"Most people would be very bitter to see their assistant get a job, but Matty was really great for me."

Georgallis leads the Panthers for the first time against North Queensland on Sunday with Gould sure to be watching his every move.

But instead of being intimidated by the prospect of NSW's most successful coach assessing him, he's boosted by it.

"It is a massive plus having him there," said the 43-year-old.

"He's said 'here's the team, you pick it and run it,' but you know that he is still there and watching ... that's great for a young coach like me."

Georgallis is also unfazed by the prospect of any success being credited to Gould and failure pinned on his shoulders.

"I've had a few people say if they start winning it is down to Gus and if they start losing it is down to me.

"But that's all part of coaching. That is the risk you take when you start, but as long as we are winning, I really don't care who gets the credit."

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