Moyes’s departure from Everton was announced earlier in the day and United subsequently revealed that he has been awarded a six-year contract at Old Trafford.
“When we discussed the candidates that we felt had the right attributes, we unanimously agreed on David Moyes,” said Ferguson in a statement, the day after he announced his decision to retire after 26 years in charge.
“David is a man of great integrity with a strong work ethic. I’ve admired his work for a long time and approached him as far back as 1998 to discuss the position of assistant manager here.
“He was a young man then at the start of his career and has since gone on to do a magnificent job at Everton. There is no question he has all the qualities we expect of a manager at this club.”
Moyes, 50, has been at Everton since 2002 and will take over from Ferguson on July 1.
“It’s a great honour to be asked to be the next manager of Manchester United,” he said in a statement released by his new employers.
“I am delighted that Sir Alex saw fit to recommend me for the job. I have great respect for everything he has done for the football club.
“I know how hard it will be to follow the best manager ever, but the opportunity to manage Manchester United isn’t something that comes around very often and I’m really looking forward to taking up the post next season.”