Downes was appointed as the Hammers' new defensive coach last week following the departure of Grant's assistant Zeljko Petrovic.
The move had an immediate impact as West Ham beat Wigan 3-1 on Saturday to record just their second win in the Premier League this season.
Gold was delighted with the victory over their fellow strugglers and outlined the process which led to Downes being brought in to help.
"We're still bottom, but I'm thrilled with the victory and such a spirited performance," said Gold.
"The board felt we needed to make some changes to the coaching staff because something wasn't quite right. We proposed to bring in Wally and Avram was thrilled to have him. So I guess you can call it a team decision.
"It was Avram who had the final decision. Anyone who comes in on the football side will always be the manager's decision.
"We do our best to be supportive, but I wouldn't want anyone to get the impression we do anything other than what the manager wants."
Gold also praised the West Ham supporters for their backing on Saturday after the game had been branded 'Save Our Season' day by the club's hierarchy.
He added: "We had a full house even though we weren't exactly playing Manchester United. Wigan brought both their fans and packed their corner.
"I'm not being disrespectful, just pointing out how powerful the contribution of West Ham fans is.
"When we go to Wigan we'll take 5,000 as they are true supporters. They know if they don't turn up it has an impact."
Barclays Prem To Stay Up 10/11 Win Outright: West Ham 10/11
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