Ipswich Town have announced the appointment of Mick McCarthy as their new manager.
Ipswich have been seeking a new boss after they sacked Paul Jewell in October, with the club currently bottom of the Championship table.
Irish coach McCarthy has been out of work after leaving his post at Wolves in February and has now agreed a contract at Portman Road until 2015.
He said on his new club's official website: "I'm obviously delighted to have been given the job as Ipswich Town manager and I'm looking forward to the challenge ahead.
"It's a fantastic football club, with a proud tradition and history and a terrific fanbase. While the long-term ambition is to take the club back into the Premier League, it's clear that the first priority is to get some confidence back into the team and start climbing the table."
Ipswich chief executive Simon Clegg added: "I am delighted to welcome Mick and Terry to Portman Road.
"We are under no illusions of the challenge ahead for this club given our position in the table but we feel we have the right manager to lead that challenge.
"Mick has a wealth of knowledge in the game and has shown that he knows how to compete successfully in the Championship in his time at both Sunderland and Wolves.
"While the first task is to guide the club away from our current position, we believe Mick has all the credentials and drive to eventually bring success back to Ipswich Town."
McCarthy has previously managed Millwall before taking over as Ireland manager in 1996. He then moved on to Sunderland, where he was in charge for 147 matches prior to becoming Wolves boss.