Lou Lamoriello, who has been the Devils' GM and team president since 1987, will remain as president.
Shero previously spent eight seasons as the GM and executive vice president of the Pittsburgh Penguins, during which the team accumulated a 373–193–56 record. He was hired by Pittsburgh in 2006 and held the position until being fired in May 2014.
"Ray is well-respected throughout the hockey industry and knows what it takes to win," said Lamoriello. "His 22 seasons of NHL front-office experience will be beneficial to the New Jersey Devils organization. I look forward to working alongside Ray."
After reaching the Stanley Cup Finals in 2012, New Jersey has missed the playoffs in each of the last three seasons.
The Devils went 32–36–14 in 2014-15, finishing seventh in the Metropolitan Division. Head coach Peter DeBoer was fired last December, with New Jersey using multiple coaches to lead the team for the remainder of the season.
- Molly Geary