Adam Oates and Scott Stevens were unveiled by the Devils on Saturday, a day after DeBoer was relieved of his duties.
The unconventional coaching structure will see Oates, who was widely anticipated to be named De Boer's replacement, serve as the forwards coach, with Stevens coaching the defence.
Lamoriello will also join the duo on the bench to help with the transition and the 72-year-old believes the appointment of two coaches is the perfect solution with New Jersey - seventh in the Eastern Conference Metropolitan Division - aiming to reach the Stanley Cup play-offs.
"I'm the only one that has the knowledge that I have about what is going on," Lamoriello told reporters at the team's training facility on Saturday.
"It's certainly not something you want to do, but when the decision has to be made, then you come up with the best alternative.
"If there was a best alternative to have a certain person become the coach that probably would have been the priority. But right now, in my opinion, this is the best approach at this time.
"These were the first two people that I had in mind when I thought it was impossible and unfair at this time to ask any coach to go into that position at this time of year.
"Both of these individuals know our players, both have been with our players, both know what [the players] are capable of doing, both know the philosophy, both have been around me."
Next season is expected to be a different story for the Devils, who are likely to revert back to one coach.
"There are no promises here on who the next head coach is," Lamoriello said. "There's no understanding. This is a joint team effort right now. A unique situation."