Steven has previously managed in Scotland with Falkirk and in the Football League with Coventry City and Fleetwood Town. A holder of the UEFA Pro Licence, Steven played for the Sky Blues in the mid-1990s and signed a three-and-a-half year contract after City were given permission to open negotiations by Falkirk.
He became Falkirk boss in 2010 and led them to Scottish Challenge Cup success in 2012.
In his first full season in charge at Coventry, Pressley guided the Club to a 18th place finish in Sky Bet League One despite beginning the campaign with a 10-point deduction.
Pressley, who was capped 32 times by Scotland, began his playing career with Rangers and signed for City in 1994. He moved to Dundee United in 1995 and then to Hearts in 1998, where he also had a short spell as caretaker manager.
He moved to Celtic in 2006 then had a spell with Randers in Denmark and ended his playing days while with Falkirk, having chalked up a series of honours over a 19-year period.