North Melbourne released a brief statement this afternoong saying it had been advised that the mastermind of Geelong's three recent premierships would not be taking up an offer to join the club as CEO.

"We wish Brian well in his future endeavours," the statement read.

"The club will continue to search for a replacement CEO ahead of the 2013 season."

North Melbourne is seeking a replacement for Eugene Arocca, who resigned in June.

Cook, who experienced success with the West Coast Eagles in the 1990s, and had once been touted as a candidate for a role as AFL CEO, remains enthused by the Geelong job after 13 years.

"After receiving an attractive offer and giving it due consideration I am pleased to remain with the club." Cook told his club's website.

"I look forward to continuing to take on the exciting challenges facing the club with the full support of the board, staff and players."

Geelong president Colin Carter said his club's board was very pleased Cook was staying.

"We know that our very good people will receive attractive offers to move elsewhere and so we are particularly pleased that Brian has decided to continue his career with us.

"We look forward very much to working with him as we build towards more success in the future."

Cook has overseen the overheaul of Geelong on and off the field. The club has recorded a profit in 13 consecutive seasons and won 120 of 148 games between 2007 and 2012, following a brutal review of the football department.

His latest project has been the gradual upgrading of Geelong's Skilled Stadium, with the latest grandstand works to be completed half-way through the 2013 season, and further development expected to increase the capacity to 38,000.

Geelong captain Joel Selwood tweeted that Cook's continuing tenure was "fantastic news" for all sponsors and fans.