Frank Lampard will fill in as deputy whenever Terry is unavailable.
A 6 player player's commitee has also been formed for handling matters between club and players.
The commitee consists on John Terry, Frank Lampard, Celestine Babayaro, Claude Makelele, Carlo Cudicini and Eidur Gudjohnsen.
Reguarding the meeting, new boss Jose Mourinho said, "We had an extremely positive team meeting. Everybody gave their opinions, it was very open, and the right decision was made.”