Slavisa Jokanovic has been sacked by Fulham and Claudio Ranieri appointed as the Premier League club's new manager.
With Fulham at the bottom of the Premier League following six consecutive defeats, the most recent of which was Sunday's 2-0 loss at Liverpool, Jokanovic's departure was confirmed Wednesday.
And Ranieri, who won the Premier League at Leicester City in 2015-16, will replace the Serbian at Craven Cottage.
Fulham said Ranieri has signed a "multi-year" contract and will be tasked with dragging the team out of relegation trouble.
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"The objective at Fulham should never be to merely survive in the Premier League. We must at all times be a difficult opponent and should expect to succeed," Ranieri told the club's website.
"This Fulham squad has exceptional talent that is contrary to its position in the table. I know this team is very capable of better performances, which we will work on straight away as we prepare for Southampton at the Cottage."
Shahid Khan today announced that he has appointed Claudio Ranieri as Manager of Fulham Football Club, replacing Slaviša Jokanović.
— Fulham Football Club (@FulhamFC) November 14, 2018
https://t.co/BUE1vNnvaO pic.twitter.com/pfxS97ONPG
Jokanovic led Fulham back to the Premier League but results this term have been poor, a 4-2 home win over Burnley its sole success.
Chairman Shahid Khan expressed regret at sacking Jokanovic and thanked the former Watford boss for his efforts.
"I wasn’t anticipating having to make this announcement related to Slavisa and wish the circumstances were such that I didn’t have to, but our path this season has led me to make what I know is the correct decision, at the right time, for our players, the club and our supporters," Khan said in a statement.
"Slavisa will always have my appreciation and respect for everything he did to return Fulham to top-flight football. I am hoping everyone in the Fulham family shares my heartfelt sentiments for Slavisa and joins me in wishing him success and good fortune, wherever his next stop may be."
Khan's son Tony will continue to oversee first-team player recruitment and contractual agreements in his role as vice chairman and director of football operations, although Ranieri has been appointed manager while Jokanovic's title at the club was head coach.
"Making a change without having the right answer or succession plan was not an option, so having someone of Claudio's caliber ready to accept our challenge was comforting but, most of all, essential," Shahid Khan added.
"Claudio is risk-free and ready-made for the Premier League, and particularly so for what we need at this moment at Fulham. His recent body of work with Leicester City is literally legendary, and then you look at Claudio's experience with Chelsea and big clubs throughout Europe, and it’s pretty evident we are welcoming an extraordinary football man to Fulham football club."
Ranieri, whose former clubs include Monaco, Chelsea, Roma and Juventus, was most recently in charge of Nantes but left the post in May after a single season with the Ligue 1 side.