The first update is in the process of being installed into the game right now, save waiting for the end of the season. You will notice the job offer email will have changed slightly if you recieve one. If the board approach you over a new contract you will be able to see your chairman, and gage his mood from this. Part of the reason is before most contracts there is a line explaining targets and expectations etc. but sometimes nothing is mentioned about the boards reaction to your performance in charge.
Hopefully having a visual chairman in the email from the board will allow you to see how they're feeling about you, as you would in real life if you had a face to face conversation with them.
Managers will also see a difference between English, Italian and Spanish chairmen.
You may start noticing this new layout from anytime onwards if you're contacted by your board.