Bull took over the role on Thursday night, following the sad passing of previous chairman Dave Holland.
He has since been thrown straight into the deep end of following on the tremendous efforts of Holland, who was instrumental in bringing Boro into the new ground at Weaponness.
"It is a testament to Dave and the work he did that as well as co-opting myself onto the board, the club have co-opted two further new board members in Andy Crossland and Fred Firman," said Bull.
"That shows you the gap that Dave's sad passing has left.
"Dave became a good friend to me and I want to make sure that his legacy is seen through to its conclusion."
Bull, who has witnessed all of the club's glory days since his first game as a fan a 9-1 win against Spalding United in January of 1967, wants to see further success, but he will not be gambling to achieve that.
He added; "Andy, Fred and myself are all experienced in business, we all know how to make the books balance.
"I am not a gambler, so I certainly will not be gambling with the future of our football club. We have to live to our means.
"The people of Scarborough will decide the success of the club. The more people that come through the turnstiles, the more money the club will have and the more likely we are to move through the leagues.
"I have lived through the Yorkshire League, the Wembley years, the Football League years and so on, but for me, I have enjoyed the last 10 years the most.
"This now is a club that I really feel a part of and we want all of Scarborough Athletic's fans to feel exactly that.
"This is our club and we are all in this together."