(CNN) Chelsea has sacked manager Thomas Tuchel after a run of disappointing results this season.
The decision was made by the club's new owners and follows a 1-0 defeat to Dinamo Zagreb in the Champions League on Tuesday.
In a short statement posted to the club's official website, Chelsea thanked Tuchel for his efforts but said it was looking to move in a new direction.
"As the new ownership group reaches 100 days since taking over the Club, and as it continues its hard work to take the club forward, the new owners believe it is the right time to make this transition," the statement read.
"Chelsea's coaching staff will take charge of the team for training and the preparation of our upcoming matches as the Club moves swiftly to appoint a new head coach.
"There will be no further comment until a new head coach appointment is made."
Tuchel took charge of Chelsea in January 2021, a day after Frank Lampard was let go by the Premier League outfit.
The German went on to win the Champions League in his first season but has struggled so far this campaign, with Chelsea dropping points in three of its six league games.
Some fans were particularly concerned after watching Chelsea lose 3-0 to Leeds United in August, a result that piled pressure of Tuchel and his team.
Results and performances continued to disappoint with Tuesday's shock defeat in the Champions League proving the final straw.
A new ownership group, led by American investor Todd Boehly, bought the club in a deal worth more than $5 billion earlier this year after Roman Abramovich put it up for sale following the Russian invasion of Ukraine.
Boehly owns stakes in the MLB's Los Angeles Dodgers, the NBA's Los Angeles Lakers and the WNBA's Los Angeles Sparks.