Before the AGM, 'Hibsforchange' organiser Keith Sands said: "It is a new protest group that we have set up yesterday.
"I have the backing of several ex-players and so far have the backing of two or three hundred fans. We want Rod Petrie to step down and away from the club altogether.
"Tom Farmer has to put some money into the club or he has to leave as well. The fans have had enough. We want to see a better class of player on the park.
"I think the campaign will eventually be successful, we can't keep blaming the managers, someone has to be wrong about that."