Manufacturers stated: 'It's a privilege to be becoming a member of Everton as director of soccer and I'm extremely excited to tackle this problem.
Everton then confirmed his appointment on their website.
Now the Merseyside club turns to Dutchman Brands, 56, who joined PSV Eindhoven having previously been instrumental in transforming the fortunes of RKC Waalwijk and AZ Alkmaar.
During his hugely successful eight year spell at the Phillips Stadion, Brands oversaw the club's transfer and academy strategy with Georginio Wijnaldum, Memphis Depay, Kevin Strootman and Dries Mertens among the many success stories from his tenure.
Brands said in a statement, "It is no straightforward challenge but this must be our motivation each and every day".
I am really looking forward to that. I now get the chance to do something in my own way.
Given their latest acquisition's reputation as one of the best talent spotters in Dutch football, Everton fans have already begun to speculate on who could arrive at the club this summer on Brands' recommendation, with talented playmaker Hakim Ziyech and Mexico global Hirving Lozano already popular shouts.
"It is only a challenge such as this which could have persuaded me to leave PSV where I am indebted to the many people whose collective effort led to some great achievements". Now we'll look to construct one thing actually sturdy and lasting right here at Everton'.
Everton Director, Professor Denise Barrett-Baxendale, said: "I'm very much looking forward to working closely with Marcel whose experience in the areas of player recruitment and development pathways for young players has forged an outstanding reputation in European football".
Walsh, who joined the club for Leicester City after being credited for being a big part of the Foxes Premier League title, has drawn criticism for the clubs moves - and also lack of moves - in the transfer window.