Everton have sacked Ronald Koeman following their 5-2 defeat to Arsenal at the weekend.
The Dutchman was already under severe pressure and the loss at Goodison Park left the club in the relegation zone.
The Toffees are 18th in the Premier League and have won just two of their nine league games this season.
“I still believe I can change the whole situation,” Koeman had said on Sunday.
Koeman became the third Premier League managerial casualty of the season after Frank de Boer left Crystal Palace and Craig Shakespeare was sacked by Leicester.
The 54-year-old Dutchman, who guided Everton to seventh place in his first season in charge last term, paid the price for a poor start to this season despite having spent £140m in the summer.
But after spending heavily in the summer, the club has struggled badly so far this term. Their defeat to Arsenal was the fifth of the season and left them 18th in the table with just eight points from a possible 27.
Not only have results been poor but the manner of recent performances. This month has seen Everton beaten 2-1 by Lyon in the Europa League, draw with Brighton and lose at home to Burnley.
In a statement the club said: ‘Everton can confirm that Ronald Koeman has left the club.
‘Chairman Bill Kenwright, the board of directors and major shareholder Farhad Moshiri would like to express their gratitude to Ronald for the service he has given to the club over the past 16 months and for guiding the club to seventh place in last season’s Premier League campaign.’
Kenwright was seen arriving at the club’s training ground this morning before delivering the news to the former Barcelona player.
Everton must now prepare for a League Cup meeting with Chelsea on Tuesday before their next Premier League game which is against Leicester on Sunday.
David Unsworth, the current academy manager, is expected to take charge in the short term. In the longer term David Moyes, Carlo Ancelotti, Chris Coleman and Sam Allardyce are among the early frontrunners.
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