O'Neill, who was an assistant under former coach Craig Riddiford, was announced as coach at the club's extraordinary meeting on Wednesday night.

She will be backed by assistant coach Clive Beavis, who along with Clive Blakeaway and O'Neill, had guided the Thunder to a perfect 4-0 start to the VWFL Premier Division season.

A coaching vacancy arose when Riddiford resigned from the club a week before the season after a dispute over key performance indicators presented to him by the committee.

O'Neill said she always had aspirations of coaching the Thunder, but did not think the opportunity would arise when it did after starting the pre-season as an assistant.

"There's a bit that's gone on, but it's a great opportunity," she said.

"They are a great group of girls, with amazing talent.

"Even the youth girls who have come up and filled in for a couple of games are very talented themselves."

Wednesday night's meting was attended by AFL Central Victoria general manager Paul Hamilton.

O'Neill was confident things had settled down off-field since the resignation of Riddiford and also former president Chris Coughlan.

"(The coaching appointment) is a good way of concreting things and hopefully the girls feel a little bit more settled and we start moving forward again," she said.

O'Neill was a member of the Thunder's back-to-back VWFL north west division premiership teams in 2011-12.

She spent 2014 as a club trainer and joined the coaching staff as an assistant last year.

Meanwhile, Bryan Coghlan has taken over the reins as club president.

The Thunder continue their season against the Eastern Devils at Mulgrave on Sunday at noon.