NZC chief executive Scott Weenink said it was the right time and place for Walter.
“Rob is a world-class coach with an outstanding pedigree,” said Weenink.
“His success in New Zealand’s domestic game, combined with his recent achievements on the global stage with South Africa, makes him the ideal candidate to lead the Black Caps.
“We’re excited to welcome Rob back home to guide our team through an exciting and challenging period, including three major ICC events.”
Walter boasts an impressive CV both locally and internationally, and was New Zealand Cricket’s preferred candidate to take the top job.
The 49-year-old South African resigned from his post as Proteas white ball coach in April, and returned to New Zealand to be with his wife and children, who did not relocate with him after he left Central Districts in 2023.
On Walter’s part, the timing was nigh-on perfect, after New Zealand Cricket announced the Black Caps’ job would be contested one week after he left his post with South Africa.
With South Africa, Walter’s side reached the semifinals of the 2023 World Cup in India, but were beaten by eventual winners Australia.
Like Stead, Walter was also forced to tolerate player unavailability, with South Africa also prone to having their best and brightest opt for franchise Twenty20 competitions over international duty.
As well as coaching domestically in New Zealand, Walter has also been an assistant to the Delhi Daredevils – now the Delhi Capitals – in the Indian Premier League.
It is understood that Walter beat competition from former Black Caps fast bowler and bowling coach Shane Bond to the role, with both being interviewed extensively by a New Zealand Cricket panel.
Former Black Caps assistant Luke Ronchi and bowling coach Shane Jurgensen are also understood to have been among the final contenders, after Stead was not interviewed.
Stead had been willing to continue as test coach only. However, as had been the case when he re-signed with New Zealand Cricket in 2023, the national body was not willing to split the coaching role in two, given the large overlap between the respective playing squads.
Alex Powell is a sports journalist for the NZ Herald. He has been a sports journalist since 2016.