"I'm a big fan," Lites said. "We're excited because of what Bob brings to this market, to this team and to the needs we've identified collectively. I just think he is going to be great."
Gainey, who recently ended a similar job with the Habs, joined the Stars franchise as coach in 1990 and became GM in two years later.
While he won five Stanley Cups as a player with the Canadiens, he was the GM when the Stars won theirs in 1999.
He also served as GM in Montreal from 2003-2010 and had been a consultant until friend and GM Pierre Gauthier was fired in late March.
Gainey, who is likely to remain in Montreal and come to Texas for lengthy stays, is expected to be an important voice for GM Joe Nieuwendyk, as well as Lites and other members in the organization.
"He's actually offered to help in any way he can," Lites told ESPN. "But he's really going to be a senior adviser guy on issues like, not so much who should we hire as opposed to do we need to hire anybody? How do you want to grow? How do we make ourselves bigger and better? Do we need more experience in a particular place? Do we need a more experienced guy in Cedar Park and who should those candidates be?
"At the end of the day those decisions will be made by Joe but Joe will enjoy, I think, a deeper, richer voice. And Joe has been real supportive. Joe has good chemistry with Bob."
Lites was very enthusiastic about Gainey's hiring, saying it was yet another sign that new owner Tom Gaglardi is willing to do what it takes to get the franchise on the right track.
"The market will appreciate that Tom Gaglardi is saying that I am going to make us better," he added. "You don't get Bob Gainey for ten bucks."