Everton have sacked manager Ronald Koeman after Sunday's 5-2 home defeat by Arsenal left them in the Premier League relegation zone.
A statement said the club "would like to express their gratitude to Ronald for the service he has given to the club over the past 16 months".
The Toffees are 18th in the Premier League and have won just two of their nine league games this season.
"I still believe I can change the whole situation," Koeman had said on Sunday.
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