Gary,
Announce that Wallace will not have his contract extended, but will finish out the year.
Tell the players that the new head coach will be watching them all year, and that they are playing for a spot next year.
Look for a new coach who will come in and demand more from the players, push them to their limits physically, and be ruthless with them if they aren't improving. Malthouse, Matthews, Williams types would be encouraged to apply. As would Buckley, Hardwick, and any assistant coach who has experienced success as either a player or coach at AFL level in the past 5 years.
Tell (privately) Brown, Johnson, Simmonds, Bowden and Richo that their time has come, and that they should retire this year. A complete redevelopment of the list is underway, and it won't benefit their careers.
Tell Chris Newman he won't be captain next year. He does not have enough presence on field, and he needs to move aside for the next generation. We need someone commanding to be our Captain, not the nicest guy.
Tell Matt Hornsby he won't be required next year. With a few exceptions, most of our players look like the teenagers they were drafted as. We are not strong enough to withstand physical football, which is what is required to succeed in the finals.
Look at trading any of our 25-28 year olds that have any currency for an opposing club. Players like McMahon, Newman, Raines would be on the table.