Steele, who had been in the job less than 12 months, left his post after a controversial hunt for a new elite performance director - a position which has still not been filled.
The RFU have not set a timeline for announcing Steele's permanent successor but have stated that acting CEO Martyn Thomas will continue in that role until an appointment has been made.
Thomas is officially chairman of the RFU but he will hand that role over to senior non-executive director Peter Baines during his time as acting CEO.
Both Thomas and Baines will revert to their previous roles once the chief executive position has been successfully filled, with media reports suggesting the search for Steele's successor will take between six to nine months.
"The Board felt it was important to maintain stability in the Union in challenging times," said Baines.
"Martyn has done an excellent job in taking over the day-to-day running of the Union since John Steele's departure and it was felt he was the best person to continue until a new CEO is chosen."
"It is important to remember that the RFU itself is in a good position despite recent events," added Thomas.
"While we accept recent weeks have been challenging there are many good things happening and I am greatly excited by the privilege of leading the RFU as Acting CEO."