His first act back in the boardroom was to reinstate Tony Pulis as manager and Coates was quick to praise the Welshman for all his team has achieved.
"I've always believed he is a very good manager. He's a good judge of a player, his teams are disciplined and well organised and he gets the best out of his players.
"He has all the attributes that I believe are essential for successful management."
Coates will now turn his attention to preparing the club for their first top-flight campaign for 23 years.
"We'll be very specific in wanting to stay up. We want to compete and that's what we'll set out to do.
"Clearly we will need to bring in new players. It's a big challenge but a great challenge."
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Interview: Peter Coates on Stoke's promotion
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