Melbourne will launch an extensive search for a new chief executive after Steve Harris said he would step down from the role before the AFL club's 150th season.

Harris, who took over as CEO in 2004, held a series of discussions with chairman Paul Gardner and other directors before announcing he would leave the club next month.

His exit comes after the Demons returned a poor financial result last year, reportedly making a profit of almost $97,000 which was $1.5 million below budget.

"This decision is one reached after much deliberation, especially on the timing," chairman Gardner said.

"I am delighted Steve has agreed to provide every assistance to the club before he departs next month so we can undertake an extensive executive search for a new CEO.

"Steve has given this club an extraordinary amount of effort and energy, and been the key driver across a wide range of activities."

Harris said he was proud of the club's progress over the past three-and-a-half years.

"I am proud that in a difficult operating environment, and a very competitive marketplace, that with the support of some very hard-working staff we have brought this club a long way," Harris said.

"The club has come a long way, and still has a way to go, but I am confident that if all sectors of the club network get behind the strategies now in place, that this club has much to look forward to."

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