Bournemouth have sacked manager Scott Parker after Saturday's 9-0 defeat by Liverpool, four games into the season.
After the loss, Parker, 41, said he was "not surprised" and said the team was "ill-equipped at this level".
It was their third straight league defeat, having won their opening match.
"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," said owner Maxim Demin.
"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 the team and will be assisted by Shaun Cooper and Tommy Elphick.
'It will be defining of us how we bounce back from this'
Parker replaced Jonathan Woodgate as Bournemouth manager on 28 June, 2021Parker, 41, joined Bournemouth in June 2021 and led them to promotion from the Championship as runners-up.
His departure follows what he described as a "humbling experience" at Liverpool, saying in his post-match press conference that the squad needed strengthening if they were to be equipped for the Premier League.
He added: "This is the toughest day, as a player and certainly as a coach. The touchline was pretty painful and I could sense it was painful for the players as well. They need some help.
"It doesn't surprise me. This is currently where it is at this moment in time. Today proved too big a challenge. The levels were far too big."
The former Fulham manager also made pointed remarks directed towards the club's hierarchy in an apparent bid for support in the transfer market.
"We've got a decision to make as a club," said Parker. "There will be days like this. Time will tell. It's my job and it will be the defining of us as a group of how we bounce back from this.
"We have some days where hopefully we can get some help in and support and help the current team who came up from the Championship.
"There's loads of work to be done. The experience today, you never want to be on the end of this. This is currently where are are. If this is the group we're going with we'll react and see where are."
More to follow.
