Sheffield Wednesday parted company with head coach Stuart Gray on Thursday after 18 months in charge.
Gray steered the Yorkshire club to Championship safety after succeeding Dave Jones and Wednesday were 13th last season in the second tier, their highest league finish since 2007.
But Wednesday's wealthy Thai owner Dejphon Chansiri – who has targeted promotion to the Premier League within the next two years - has opted for a managerial change.
Chansiri said in a statement on Wednesday's official website: "This is not a decision I have taken lightly but one that I believe is in the best interests of our club ahead of the 2015/16 season.
"The club will be taking a new direction next season and it is my belief that the appointment of a new head coach will help achieve my desire of bringing Premier League football back to Hillsborough.
"I would like to thank Stuart for his hard work and diligence on behalf of Sheffield Wednesday and wish him all the very best moving forward."
‘The pure simplicity of the way Slot has managed the squad is probably the biggest thing I could say about him. It’s not broken, so let’s get on with it’: Liverpool legend full of admiration for Jurgen Klopp's successor at Anfield
‘I trained at Spurs and thought they’d give me a chance. But I received a letter thanking me but saying they didn’t think I was good enough – I was gutted’: How Tottenham missed out on signing Wales legend John Toshack
