Bournemouth have sacked head coach Scott Parker in the wake of Saturday's 9-0 defeat to Liverpool.
The Cherries were thrashed at Anfield in a Premier League record equalling defeat as they suffered their third loss of the season since promotion back to the top-flight.
Although they did beat Aston Villa on the opening day of the season, they also lost to Manchester City and Arsenal as they shipped 16 goals in those matches.
Bournemouth chairman Mxim Demin said: “I would like to place on record my gratitude to Scott and his team for their efforts during their time with us. Our promotion back to the Premier League last season under his tenure will always be remembered as one of the most successful seasons in our history.
“However, in order for us to keep progressing as a team and a club as a whole, it is unconditional that we are aligned in our strategy to run the club sustainably. We must also show belief in and respect for one another.
"That is the approach that has brought this club so much success in recent history, and one that we will not veer from now. Our search for a new head coach will begin immediately.”
Gary O'Neil will take interim charge of Wednesday's home clash with Wolves, assisted by Shaun Cooper and Tommy Elphick.
Parker joined Bournemouth in June last year, on the same day his departure from Fulham had been officially finalised.
The former Chelsea, Newcastle, West Ham, Tottenham and Fulham midfielder, who also won 18 caps for England, left the south west London London club following their relegation from the Premier League.
That had been his first role in senior management following a successful coaching career, which included stints with Tottenham's under-18s and as Fulham's caretaker manager.
He guided Bournemouth to the Premier League in his first season in charge, but has been frustrated by the club's transfer business this summer.
That frustration came to the boil at Anfield on Saturday, when Parker cut a disconsolate figure on the touchline as his side were thrashed.
“It goes without saying it is a really humbling experience. I am pretty shell-shocked,” he said after the match.
“I am not that surprised given the level here is far greater than we have. I am not making an excuse, some of the goals were our own doing.
“I feel sorry for the fans. I feel sorry for the players because we are ill-equipped at this level. This does not shine a light for me. There are players who are experiencing the Premier League for the first time. I never thought we could get beat 9-0 but I expected a real challenge at certain moments in certain games.
“This is the toughest day, as a player and certainly as a coach. The touchline today was pretty painful and I could sense it was painful for the players as well. They need some help.
“Liverpool were ruthless and my boys were flat to the floor, searching for oxygen at times and trying to breathe.”
