Jon Dahl Tomasson will be the head coach of the team for the next three years.
Tony Mowbray left the club when his contract expired in May.
Tomasson is a two-time league title winner with Swedish club Malmo FF.
Six points outside of the play-off places were the difference between eighth and eighth in the second tier table.
Chief executive Steve Waggott told the club website: "It has been a long process, but we are really pleased to have eventually secured the services of such a young and ambitious coach in Jon."
"I'm really proud and excited to be taking over as head coach of a club with a lot of tradition and great ambition," Tomasson said.
"We have a young team here, and also a great academy, and the owners have a clear vision, which is to develop players and become a sustainable premier league club over time, so I am really happy to be involved in this exciting new chapter for the club."
The new director of football was named last week by the club.
The first team and academy have been taken over by Broughton.
They missed out on a top-six spot in the second half of the season despite being as high as third at one point.
The club spent 10 years outside English football's top flight, the past four in the Championship, after they were demoted to League One.
Andy Bayes is an editor at the radio station.
Over the last five days or so, the appointment of Jon Dahl Tomasson was looking more and more probable.
They were linked with a number of players over the last few weeks, but it is Tomasson who has been given the chance to take over at E.
The last time he was in England was 25 years ago, when he was a Kenny Dalglish signing. He spent a season with the Magpies before moving on to more successful spells.
He helped the Danes reach Euro 2020 as an assistant coach, before securing back-to-back league titles for Malmo in Sweden, and also negotiated four qualification rounds for the group stages of the European Championship.
It is a large job. The club haven't reached the play-offs in 10 years since being demoted from the premier league and it remains to be seen what level of financial backing will come from the club's owners in india.
With out of contract departures and last season's loanees returning to their parent clubs, recruitment will be important. There is a new director of football and a new head coach coming soon.
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