"The Senators intend to hire a president of hockey operations to support and provide guidance to the general manager, and fill the void left by the late Bryan Murray," the statement said.
"The position is integral to the success of the hockey club, especially as we continue our rebuilding process, hiring a top-notch candidate to fill this role is critically important."
While the Sens seek another hockey mind, the team added that the new hire won't threaten GM Pierre Dorion's position with the club.
The Senators have made several significant trades since the offseason and have begun a full-scale rebuild. The club shipped out former captain Erik Karlsson in September and then dealt Mark Stone, Matt Duchene, and Ryan Dzingel - the club's three leading scorers at the time - before the trade deadline.
As a result of the roster makeover, Ottawa has 19 draft picks at its disposal over the next two drafts. In February, owner Eugene Melnyk said the club will be "all-in" for a five-year run of success from 2021 to 2025 when the team will spend close to the league's salary cap.
The Senators currently rank 31st in the NHL with 58 points through 75 games.