The club has come under scrutiny after they appointed Joe Kinnear as their new director of football, which was swiftly followed by the resignation of managing director Derek Llambias.
"Ashley has got a big business there with Newcastle, and it's silly not to include everyone in it, as the supporters are the most important thing," the Shields Gazette quotes Shepherd as saying.
"In most football clubs, certainly big football clubs like Newcastle, nobody really owns it, you are just passing through. Someone else is going to get it eventually, and it's important you treat it with respect. I think what the supporters really need is some certainty there."