Everton have appointed Carlo Ancelotti as their new manager on a four-and-a-half-year deal.
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The 60-year-old Italian replaces Marco Silva, who was sacked earlier this month, and becomes Everton's fourth permanent boss since the departure of Roberto Martinez in May 2016.
"This is a great club with a rich history and a very passionate fan base. There is a clear vision from the owner and the board to deliver success and trophies," Ancelotti told Everton's website.
"That is something that appeals to me as a manager and I am thrilled at the prospect of being able to work with everybody at the club to help make that vision a reality.
"I have seen from the performances in the last two weeks that the players are capable of so much. The work Duncan (Ferguson) has done is a great credit to him.
"Strong organisation, strong discipline and the right motivation are some of the key ingredients in football and I'm pleased that he will be part of my backroom team moving forward."
Ancelotti is a three-time Champions League winner with former clubs AC Milan (twice) and Real Madrid and his arrival at Goodison Park is a major coup for the Merseysiders.
He won the Premier League and FA Cup double with Chelsea in 2010 and also won the Ligue 1 title with Paris St Germain in 2013.
Everton dismissed Portuguese Silva earlier this month following three straight defeats which left them in 18th place in the Premier League table.
"Following a rigorous process conducted by all of our directors, it is a pleasure to now welcome Carlo Ancelotti to Everton," director of football Marcel Brands said.
"He is one of the finest managers in world football and a proven winner, having achieved a remarkable level of success in each of Europe's major leagues.
"This was a clear and exciting decision for the board to make. It was a unanimous choice and one we were all fully united behind throughout.
"Carlo has proven time and again, he knows how to build a trophy-winning side and we share the excitement of our fans at the prospect of him leading our team in the years ahead. We're all greatly looking forward to working with him."
Australian Associated Press
