Hird will now focus purely on the 2015 season when his suspension expires on August 25 as he works on preparations for the upcoming pre-season, list management and recruiting.
Myers said he and his teammates were eagerly anticipating the prospect of playing under Hird next year, but he believes the board's stance is the right one.
"The main thing with that is that we didn't want any distractions heading into the finals," Myers told AFL.com.au.
"As players we're looking forward to having Hirdy coming back and we want him back.
"But I think the board decided it would be in the best interests of us that there would be no distractions leading into September."
Essendon is positioned seventh on the ladder and Myers said it was imperative the Bombers maintained their intensity, given what is at stake, in this Friday night's crucial clash against the Sydney Swans at the SCG.
North Melbourne, Essendon, Adelaide, Collingwood and Gold Coast are now duking it out for the remaining three spots in the top eight.
"It's pretty tight down the bottom end of the eight, so we've got to keep winning games because you could easily drop out if you have a bad couple of weeks," Myers said.
The 25-year-old believes 2014 has been his most consistent season to date, with his role taking on even greater significance in the absence of Jobe Watson through a hip injury.
At the end of last year, Myers signed a two-year contract extension to remain at Essendon until the end of 2016.
Before he committed to the Bombers it is understood Melbourne and St Kilda made a play for him, via a potential trade, at the end of last year.
Although Myers is not set to become a free agent until his existing contract expires in 2016, he had some interesting comments on the concept of free agency.
"I think it's a good thing for players," Myers said.
"You can be out of the game quite quickly if things go badly, so to have the flexibility to be able to move and have a bit more control over your destiny is not a bad thing for a player.
"But you don't want it to get to where the NRL is, where you have guys saying they're leaving mid-season. I think that's a bad look."
Twitter: @AFL_BenGuthrie http://afl.to/benguthrie
