Unai Emery has been sacked as Arsenal manager following Thursday's loss to Eintracht Frankfurt.
Freddie Ljungberg has been handed the reins on an interim basis but the Gunners have begun their search for a new permanent boss.
Confirming Emery's exit on Friday morning, Josh Kroenke said: “Our most sincere thanks go to Unai and his colleagues who were unrelenting in their efforts to get the club back to competing at the level we all expect and demand."
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Arsenal statement in full
We announce today that the decision has been taken to part company with our head coach Unai Emery and his coaching team.
Speaking on behalf of the Arsenal board and our owners Kroenke Sports & Entertainment, Josh Kroenke said: “Our most sincere thanks go to Unai and his colleagues who were unrelenting in their efforts to get the club back to competing at the level we all expect and demand.
"We wish Unai and his team nothing but future success.”
The decision has been taken due to results and performances not being at the level required.
We have asked Freddie Ljungberg to take responsibility for the first team as interim head coach. We have full confidence in Freddie to take us forward.
The search for a new head coach is underway and we will make a further announcement when that process is complete.
