Unai Emery has been sacked by Arsenal after 18 months at the helm as head coach of the North Londoners, with Freddie Ljungberg in charge on a temporary basis.
The Spaniard was axed on Friday morning following a series of poor results and performances that have seen the Gunners go on a run of seven games without a win in all competitions.
Fans of the team have been calling for the head of the coach, even as the board gave him more time to try and improve the results.
But Thursday's 2-1 home defeat by Eintracht Frankfurt was the last, with the board deciding to make a change in the dugout.
A club statement released by their official website reads: "We announce today that the decision has been taken to part company with our head coach Unai Emery and his coaching team.
"The decision has been taken due to results and performances not being at the level required.
"We have asked Freddie Ljungberg to take responsibility for the first team as interim head coach. We have full confidence in Freddie to take us forward.
"The search for a new head coach is underway and we will make a further announcement when that process is complete."
Arsenal's non-executive director, Josh Kroenke, further added: "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."
Emery, who managed both Paris Saint-Germain and Sevilla in his previous two jobs, was brought in to take over from the long-serving Arsene Wenger in May 2018.
The 48-year-old led the Gunners to the Europa League final in his first season, ultimately losing out to Premier League rivals, Chelsea.
Ljungberg will now be tasked with arresting Arsenal's longest winless streak since February 1992 and a return to challenging for a top-four finish, starting with Sunday's trip to relegation-battling Norwich.