The 44-year-old was appointed as Neil Warnock's successor at New York Stadium on Wednesday after turning his back on the club he led to Scottish Cup glory less than a fortnight ago.
That Hibs squad had performed admirably throughout the season, missing out on promotion to the Premiership in the play-offs, and Stubbs reckons he had developed a squad that had £3-4million worth of saleable assets.
Reports had linked the likes of Anthony Stokes and Cummings with a move south, but Stubbs is not prepared to go shopping at his former club.
"I have left on good terms and for me I would like to think I am a decent man and for me to go back there right now as soon as I have left is not morally the right thing to do," Stubbs said. "I wouldn't do that because I have got too much respect and admiration for the club."
Stubbs' first job in his new role will be to talk to the five out-of-contract players who were offered new deals by the club on the advice of Warnock.
And the new Millers man has hinted that he could be prepared to take those contracts off the table.
"We've got 10 players who are contracted, we've got five who've had offers from the previous manager," he added. "We will speak to them and they will know the decision by tomorrow one way or the other."
Asked whether they could now be released, Stubbs added: "I think it's important we speak to them first. We want to do things right."
