Claudio Ranieri has been announced as the new Fulham boss as Slavisa Jokanovic has been sacked by following their awful start to the season.
The 50-year-old had been in charge of Fulham since 2015 and led them to promotion from the Championship last year, winning the play-offs.
However, Jokanovic was already surviving on borrowed time and Fulham lost their seventh game in a row as they travelled to Liverpool in the league on Sunday.
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Jurgen Klopp's men won 2-0 as they bounced back from their embarrassing 2-0 defeat away to Red Star Belgrade in the Champions League.
While, The Cottagers sit bottom of the league with just five points from their opening 12 games, resulting in Jokanovic getting the boot.
The Lilywhites only points this season have come from a home win against Burnley and draws away to Brighton and home to Watford.
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Fulham spent £100million on players in the summer but have failed to impress on their return to the Premier League, conceding 31 goals and scoring just 12 thus far.
In a statement, Ranieri said: "It is an honour to accept Mr. Khan's invitation and opportunity to lead Fulham, a fantastic club with tradition and history.
"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 be succeed.
"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 will work on straight away as we prepare for Southampton at the Cottage."
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Fulham chairman Shahid Khan said: "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.
"Slavisa will always have me 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."
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