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Staunton will be assisted by former England manager Bobby Robson as a consultant, with Kevin MacDonald as coach and former Republic number one Alan Kelly as goalkeeping coach.
Despite the surprise appointment of Staunton, Kerr wishes the new management team the best of luck in changing the Republic's fortunes.
"The one thing I will say about it is that I wish him (Steve Staunton) the best of luck, I wish them success," he said.
"They have an interesting group of people now running the team. He (Staunton) has been an exceptional player for Ireland, he's brought in other people that have experience in management and so on.
"Like anyone who has a real passion for Irish football, and wants success for us in sport, I want them to have success and I hope they have success in the future and good luck to them with it."
Kerr distanced himself from speculation linking him with taking over as South Africa boss but he admitted he had sent an informal application for the job, while also revealing he had turned down a number of other offers to return to management.
"In relation to South Africa, the African Nations Cup is starting and they have a manager in place. The Association is fully supporting him in that job and we'll take it from there. We will see what happens from there," he said.
"I have had no negotiations whatsoever, I have had no direct contact with the South African Association personally."
Kerr believes Staunton will now look at the availability of every possible player for the Republic.
"As I have said before, there would be no stone left unturned in the search for players who are good enough for the national team," he added.
"And there was no stone left unturned."
He added: "There are elements to it. Players need to have the ability better than what you have or else they need to have the commitment if in either case they fell done then I didn't pick them."