Carlo Ancelotti is no longer Chelsea manager, the club have announced, after the final day of the Premier League saw them lose 1-0 to Everton.
A statement on the club's website revealed they had parted company with the Italian, who led Chelsea to a Premier League and FA Cup double last season.
His position had been the subject of much speculation after Chelsea's poor form at the turn of the year, which culminated in their exit from the FA Cup and Champions League. Despite getting back into title contention in the league, and the January signings of Fernando Torres and David Luiz, a 2-0 defeat at Manchester United condemned them to second place.
The statement read: "Chelsea Football Club can confirm that Carlo Ancelotti parted company with the club today (Sunday, 22 May).
"The owner and board would like to thank Carlo for his contribution and achievements since taking over as manager in July 2009, which included winning the Double for the first time in the club's history.
"However, this season's performances have fallen short of expectations and the club feels the time is right to make this change ahead of next season's preparations. Carlo will always be welcome at Stamford Bridge, where he will be given the reception and respect his position in our history deserves.
"Chelsea's long-term football objectives and ambitions remain unchanged and we will now be concentrating all our efforts on identifying a new manager. There will be no further comment until that appointment is made."