Middlesbrough are considering former Chelsea boss Guus Hiddink and ex-Leicester manager Nigel Pearson to replace Aitor Karanka at the Riverside, sources close to the club have told ESPN FC.
Former Real Madrid assistant manager Karanka was sacked earlier on Thursday after three and a half years at the club.
Middlesbrough have failed to win any of their last 10 Premier League games, which has seen them drop into the relegation zone, three points adrift of safety.
Middlesbrough's board have now decided to look for a new man to lead them to survival in the final few months of the Premier League season.
Dutch coach Hiddink, who was linked with the vacancy at Leicester last month, is thought to figure highly on Boro's wanted list to take over until the end of the season.
Hiddink has experience with taking over clubs on an interim basis after two spells in charge of Chelsea, but it remains to be seen if the 70-year-old would be prepared to take on a relegation battle at this stage of his career.
Former Leicester boss Pearson is also in the frame for the job at Middlesbrough, with the 53-year-old having close connections with the club after playing for them for four years between 1994-98 and captaining them in the Premier League under Bryan Robson.
Pearson is keen to get back into management after leaving Derby last October and sources said he was willing to speak to Middlesbrough about the role.
Pearson has supporters in the Middlesbrough hierarchy because of his experience of leading a team to survival in the Premier League, as he did with Leicester the 2014-15 season with seven victories from their final nine matches.
Karanka's former assistant, Steve Agnew, has been placed in temporary charge ahead of this weekend's clash with Manchester United, but Middlesbrough hope to get their new man in as soon as possible.