Shearer insist there must be a collective blame for their relegation.
Shearer said: “I spoke to them in the dressing room and said ‘you can make all the excuses you like’.
“But I wasn’t good enough, Mike Ashley is not good enough, the same with Chris Hughton, Kevin Keegan, Joe Kinnear (who have all managed Newcastle this season), people in the dressing room, all of us.
“I was shocked at the state of the club when I came in. I was aware of mistakes that had been made. There are huge problems at the club. They are there for everyone to see.
“It’s not just about today. It has gone on this season, last season, the season before, four seasons ago. It is a culmination of everything.
“Players need to go, players need to come in and those guys (in charge) need to decide where the football club is going to go. I’ll give my opinion on that and then we’ll see where we get.
“Those guys have got decisions to make – who is going to be in charge, how much they are going to spend? There are a million questions that need to be answered.”
Shearer added: “What needs to change? A hell of a lot. There are a million things looking back a long way that haven’t been right.
“I’m not blaming anyone. It has happened. What is important now is that the football club gets back on track and the sooner the better for everyone.
“In the end the three worst teams deserved to go down and, unfortunately for me, Newcastle are one of them. We can’t complain.
“We have conceded too many goals, we haven’t created enough, not scored many. That has been a problem all season and, when you get in a rut, it is very difficult to get out of it.”