The 69-year-old had looked likely to depart San Siro due to his reputation being "seriously damaged" by turmoil at the Serie A giants, with reports at the time suggesting Silvio Berlusconi's daughter, Barbara, would assume day-to-day control of running club affairs.
However, a statement on the club's website on Thursday suggested that all differences had been settled and that Galliani will hold on to the position he has held for 28 years.
"Firstly, the technical/sporting area will remain under the control of Adriano Galliani, vice-president and CEO," it read. "Secondly, the business area which does not correspond to the first will be under the control of fellow CEO Barbara Berlusconi.
"Paolo Berlusconi has been confirmed as vice-president and all club board members have been confirmed in their current positions: P. Cannatelli, L. Cantamessa, A. Cefaliello, G. Foscale and A. Marchesi."
Galliani recently expressed his wish to see improvements to the Milan youth system as the club look to recover from a disappointing start to the Serie A season.
