Payne is set to replace Justin Pascoe, who last year left the organisation to head up the Wests Tigers, according to Fairfax Media.
The 31-year-old is set to become the youngest CEO in the game and is expected to be unveiled on Friday.
Payne played 131 games during an eight-year career that included stints at St George Illawarra, Tigers and Bulldogs before retiring at 28 to pursue business interests.
He graduated with a Bachelor of Commerce from the University of Sydney and is currently working in a managerial role at Woolworths head office.
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