Simon Jordan has taken aim at Everton chief Farhad Moshiri after Marcel Brands left the Merseyside club.
The Toffees' director of football clashed recently with Rafa Benitez, who was appointed in the summer, but has presided over a poor run of form.
Brands, who has been responsible for large parts of Everton's recent transfer activity, has ultimately lost out in the power struggle.
The 59-year-old Dutchman claimed "there is a clear difference in the vision and direction" with the club, who are currently winless in eight and languish in 16th place.
It has shone the light on Moshiri, who first invested in Everton back in 2016, and is now the majority shareholder.
His millions have been unable to make the Toffees a force in the Premier League with his regime marred by consistent manager changes, a lack of clear direction and plenty of poor recruitment.
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Eighth place is currently Everton's highest finish in a full season since Moshiri purchased a stake in the club.
Jordan, himself a former club owner, has questioned the investment made by the billionaire at the helm and also taken issue with his decision to appoint former Liverpool boss Benitez in the summer - a move that was met with plenty of anger initially.
“The problem with Everton Football Club is Moshiri,” Jordan said on TalkSPORT. “I think Moshiri has spent money but not as much as people think he has.
“The gross spend is different to the net spend, but I think Moshiri doesn’t know how to run Everton Football Club.
“I’m not suggesting that I’m the oracle. I had successes and failures in equal measure, probably, but sitting back and looking at it objectively, I would have loved to have owned a football club like Everton with all the potential behind it.
“You’ve got more opportunity to get it right than wrong. From the managers he’s employed to the transfers he’s sanctioned.
“Even Benitez, I know he can do a decent job – but who in their right mind brings Benitez to Everton?
“He wasn’t just a Liverpool manager but he was an iconic Liverpool manager, who was inextricably indexed to Liverpool.”
Everton's horrid run has seen them lose 5-2 at home to Watford and get well beaten in the Merseyside derby, again at Goodison Park.
Benitez was afforded a limited budget in the summer with many of the new faces arriving on a free.
After the recent defeat to Liverpool Brands appeared to lay the blame for their poor run at the Spaniard's doorstep after a verbal exchange with a fan.
