Wolves have sacked manager Bruno Lage after 16 months in charge following Saturday’s defeat by West Ham United left them in the bottom three.
Wolves have won just one and lost nine of their past 15 Premier League matches under the Portuguese.
Lage succeeded Nuno Espirito Santo last summer and led Wolves to a 10th-placed finish in his first season in charge.
However, his side have only scored three goals and picked up six points from eight games this season.
Wolves chairman Jeff Shi said: “Bruno Lage is an excellent coach, a hardworking and dedicated manager, and a warm, wise and honest man.
“He and his staff have been a pleasure to work with throughout their time at Wolves, so it is with much sadness that we have had to make what has been a difficult decision.
“I honestly have no doubts about Bruno’s ability, and I’m sure he will succeed elsewhere, however the team’s form and performances over the last few months mean that we have no choice but to act.
“On behalf of everyone at Wolves, I would like to place on record our gratitude to Bruno and his coaching team for all their efforts during their time with the club, and wish them the very best for the future.”
Wolves have announced that experienced coaches Steve Davis and James Collins will prepare the team this week for the trip to Chelsea.