Liverpool chairman David Moores had threatened to resign his post if results on the pitch do not improve.
Moores - who insisted he still backs manager Gerard Houllier - made the announcement at the club's annual general meeting last night.
Moores and Houllier were criticised by a long succession of shareholders frustrated by the club's indifferent form on the field.
"I appreciate all you say, I hear all you say, and as chairman the buck stops with me," Moores told the club's shareholders. We around this board still have faith in Gerard and his backroom staff, and we are only halfway through the season.
He added: "The buck stops here. If it gets any worse I will have to look at my own position, but I hope it does not come to that," Moores said.
PA