Currently head coach of the Saxons, Lancaster has risen dramatically since running the Leeds academy back in 2001 and is in the running to take on Johnson's former role as a caretaker for the RBS 6 Nations.
While England's stock is at an all time low, Lancaster's couldn't be higher and he has established himself as a senior figure in the RFU since joining as head of elite player development.
And despite admitting he would have liked to have seen Johnson remain in charge, Grewcock admits Lancaster is the next best thing, seeing the effort he has put in to climb the coaching ladder as a sign of things to come.
"I think bringing Stuart in as a caretaker manager for the England squad would be the correct move and is one that is right for the moment," said World Cup winner Grewcock, who is an ambassador for SSE - a leading energy company and National Community Partner of the RFU.
"It is important that England find the next guy for the long term and you can't go far wrong than looking at Stuart.
"It was unfortunate in my opinion that Martin Johnson has gone as I for one would have liked to have seen him given more time as I thought he was the right guy for the job.
"But there is nothing we can do about it now and it is important the RFU make the right decision for the team going forward for the long haul and Stuart is right up there.
"Stuart is a very good coach and obviously learnt the hard way by working his way up the ladder with Leeds starting out at the academy and then going on to become their director of rugby.
"That shows that he knows how to get the best out of people and that is what being an international manager is all about as you don't get a huge amount of time with them for training really.
"If he is given the caretaker manager role he will be doing all he can to make sure he is there for the long haul and knowing Stuart I wouldn't bet against him."
The behaviour of England's players off the field in New Zealand grabbed as many headlines as their limp exit on it did and whoever is in charge come next year's Six Nations will have this to address.
But Grewcock believes Lancaster would take this in his stride, insisting he has already bridged the gap between the RFU and the players.
"I know that he is well liked by the players and that is important too as the old cliché is a true one in the fact that a happy squad is a good squad so to have a manager that is liked by the players is the first battle," he added.
"He also knows the RFU for his role within the group and with everything that has gone on that could be important in the long run.
"Stuart brings with him a lot of experience on the coaching side of things and I know that he likes a challenge and there is no bigger challenge than being in charge of England so it will be one he will be looking forward to for sure."
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