DEPARTING Robert Harvey believes Collingwood supporters should be excited about the club's future under Craig McRae.

Harvey, who was caretaker Magpies coach after Nathan Buckley left in June, is on his way out of Collingwood after 10 years.

His departure was officially confirmed on Wednesday, along with the club's unveiling of McRae as its new coach.

A three-time premiership player with the Brisbane Lions, McRae has worked as an assistant at Hawthorn, Collingwood and most notably, Richmond - where he coached the Tigers' VFL team to the 2019 flag.

McRae's former Lions teammate Justin Leppistch is expected to join him in a senior position at the Magpies.

Leppitsch was head coach of the Lions for three years and had two successful stints as an assistant at Richmond.

Harvey described his exit from Collingwood as a mutual decision and said he was keen for a new challenge after a decade at the club.

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The St Kilda legend previously worked with McRae and believes his former colleague inherits a list with a bright future, despite finishing 17th this year.

"I do think it's exciting going forward for Craig and what he's got to deal with and the fans should be really excited for the future," Harvey told SEN.

McRae will be just Collingwood's third full-time coach this century, after Mick Malthouse (2000-2011) and Buckley (2012-2021).

Harvey stated Buckley's exit after the round 13 upset of Melbourne was difficult to handle for a lot of players.

"I think everyone was shocked because it was pretty sudden," Harvey said.

"That reverberated throughout the whole building and it was pretty difficult.

"It did send shockwaves through the place."