There is no escaping the fact that Pearce, known affectionately as `Psycho`, remains a cult hero amongst Forest fans.
The tough-tackling left-back made over 500 appearances for the club as a player during a 12-year stay on the banks of the River Trent, twice winning the League Cup under legendary manager Brian Clough.
He even had a spell as caretaker manager during the 1996/97 season following the departure of Frank Clark.
The former Manchester City and England Under-21 boss made an emotional return to the City Ground as he was confirmed as Billy Davies' permanent successor.
Academy manager Gray Brazil will remain in charge on a interim basis for the remainder of the season with Pearce, who has signed a two-year contract, taking up his new role in the summer.
Some Forest fans were excited by the news of a returning hero who has the Reds at heart and who will galvanise the whole club following the circus that will forever be synonymous with Davies' second spell at the helm.
But that was tempered by some supporters who recalled Pearce's difficult spell in charge of Manchester City and, more recently, his acrimonious departure from the England set up.
Here at HITC we take a look at what Forest fans were Tweeting throughout the day.
Buzzing tonight, been waiting for this day for many years. Welcome home Psycho #nffc— Chris Denman (@Gump1865) April 3, 2014
Very refreshing press conference today good to hear from two legends in McGovern and Pearce and a possible future legend in Fawaz #nffc— Stephen Edward Smith (@DukeriesRed) April 3, 2014
PSYCHO! PSYCHO! PSYCHO! PSYCHO! PSYCHO! PSYCHO! PSYCHO! PSYCHO! PSYCHO! PSYCHO! PSYCHO! PSYCHO! PSYCHO! PSYCHO! PSYCHO! PSYCHO!!!!!!! #nffc— Daryl Bower (@F_O_R_E_S_TBOY) April 3, 2014
In all honestly, wasn't gonna bother renewing the season ticket next year. Now Pearce is here, I can't wait to see him back!! #nffc— Allan Pritchard (@allan__85) April 3, 2014
I'm all emotional listening to psycho's first press conference. Can't wait till next season #nffc— Sam Crawford (@s_redmist) April 3, 2014
Pearce has no ulterior motives,he wants #nffc as much if not more than they want him.He's wrongly labelled a great player but poor manager.— Guyzario (@JGUY30) April 3, 2014
This could go either way, but whatever happens I am so happy to welcome Psycho home!! #nffc— Helen B. (@nffc86) April 3, 2014
Is Pearce the best manager we could have got this summer? #nffc— The Fridge Corner (@TheCornerNFFC) April 3, 2014
Even if it doesn't quite workout I'll keep his player status separate from Pearce the manager. #NFFC— chris robeson (@1robeson) April 3, 2014
#nffc should look forward to playing 19th century football next year— Jak Wyer (@JakWyer) April 3, 2014
I do have some mild reservations about Pearce, but I'm excited for next season now. Even though I'll likely miss most of it. #nffc— Captain Pedantic (@Alex_Winstone) April 3, 2014
@rodger234 I know he's a legend and I know his passion is unrivaled but I ain't confident he's the right man for the job— Sam Woolley (@SamWoolley7) April 3, 2014
Despite the doubters, Pearce himself believes in his own ability to do the job.
Speaking at Thursday's press conference, he said: ``I think my managerial credentials are pretty strong.``