Chapman, who has been on the Crows’ board for the past two years, served as deputy chairman in 2008 and was formerly announced as chairman in a meeting on Friday morning.
Describing the appointment as a great privilege, Chapman thanked directors for their support.
“The next 12 months, we all know, will be an interesting mix of challenge and excitement,” he said.
“We have a youthful list and a team that is rightly being talked about as capable of setting us up for years to come, and like all other clubs we have some major off-field challenges in this currently tough economic climate.”
Dual premiership player and life member Nigel Smart, who has been on the board since 2005, was named deputy chairman and Andrew McEvoy a director of the board.
Sanders has been involved with the Crows since their inception into the AFL in 1991.
He was the club’s first CEO and went on to spend five years as chairman of the board.
Coach Neil Craig praised Sanders’ contribution at Tuesday’s annual general meeting.
“Thank you for the work you have done with the Adelaide Football Club and the legacy that you leave behind,” Craig said.
“Personally I’d like to thank you for appointing me and providing me with the greatest sporting opportunity of my life.”
The 2009 Board is: Rob Chapman (Chairman), Nigel Smart (Deputy Chairman), Alan Sheppard, Andrew Payze, Peter Hurley, John Sutton, Andrew McEvoy and Steven Trigg (CEO)
