Arsenal have announced they have sacked manager Unai Emery after a disappointing run of results.
The club are on their worst run since 1992 and comes the morning after a disappointing 2-1 home defeat to Eintracht Frankfurt.
Speaking on behalf of the Arsenal board and owners Kroenke Sports & Entertainment, Josh Kroenke said: "Our most sincere thanks go to Unai and his colleagues who were unrelenting in their efforts to get the club back to competing at the level we all expect and demand.
"We wish Unai and his team nothing but future success."
A statement on the club's website said "the decision has been taken due to results and performances not being at the level required".
Assistant manager Freddie Ljungberg will take responsibility for the first team while a search for a new head coach is now underway.
Wolves manager Nuno Espirito Santo is the firm favourite among bookmakers, while Manchester City assistant manager and former Arsenal player Mikel Arteta is also thought to be in contention.
Emery took over from Arsene Wenger at the start of last season and took Arsenal to the Europa League final, where they were beaten 4-1 by Chelsea.
The former Sevilla and PSG manager also missed out on automatic Champions League qualification during his first season in charge, with the team finishing fifth.
Arsenal are eighth in the Premier League table and take on Norwich City on Sunday.