Wolves have sacked manager Stale Solbakken following the embarrassing FA Cup defeat to non-league Luton.
The npower Championship side confirmed in a statement they had terminated the contracts of the Norwegian as well as assistant manager Johan Lange and first-team coach Patrick Weiser.
Solbakken's six-month reign at Molineux has been an unqualified failure, with the newly-relegated club 18th in the table and now the victims of one of the biggest upsets of the third round. Wolves have won just three of their last 16 league games and the club branded that streak as "a hugely disappointing run of performances and results"
They have put Kevin Thelwell, head of football development and recruitment, in caretaker charge, assisted by development coach Steve Weaver.
Speaking after the match, Solbakken had said he was not "embarrassed" by today's 1-0 defeat at Kenilworth Road and insisted he remained the man to "put it right" at the club.
But Wolves bosses have clearly taken a different view. The club are now looking for their fourth boss in less than a year after the departure last February of Mick McCarthy and the brief tenure of Terry Connor.
Before his departure, the Norwegian - who was appointed in the summer - claimed he felt no shame in crashing out of the FA Cup to non-league opposition.
"There will be a lot of questions over me but that is normal, that's football and I have to take that, it's no problem," he said. "I can put it right. I'm not embarrassed by the result, I can't fault the players' effort. First half we did well, but second half we didn't because our physical presence in the box was not enough."
Luton boss Paul Buckle claimed it was impossible to tell who were the underdogs after Alex Lawless' goal settled the contest. Buckle's Blue Square Premier side grabbed the only goal of the game through Lawless a minute after half-time and comfortably held out against four-time winners Wolves.
"It was tough for Wolves. If it's going to be tough for teams like Wolves to come to Kenilworth Road, it gives everyone a lift," he said. "We're working hard, and the pleasing thing for me is that the players showed just how capable they are."