West Ham have appointed David Moyes as their new manager following the sacking of Slaven Bilic.
The Hammers are 18th in the Premier League table following their 4-1 thrashing at the hands of Liverpool last weekend.
The Irons subsequently took the decision to sack Bilic, who was almost let go by the club at the end of last season after an 11th-placed finish.
Moyes has not worked in football since resigning from Sunderland following their relegation to the Championship last season.
The Scot has not enjoyed much success in the dugout in recent years after failing to last a season at Manchester United, spending a mixed year in charge of Real Sociedad and then presiding over Sunderland's relegation.
Joint-chairman David Sullivan, however, is optimistic about the club's new appointment.
“I would like to welcome David to West Ham United," he told the Hammers' official website.
“This is a unique position for David Gold and myself - it is the first time in almost eight years at West Ham United that we have appointed a new manager during the season.
“We need somebody with experience, knowledge of the Premier League and the players in it, and we believe David is the right man to turn things around and get the best out of the players at the club. He is highly regarded and respected within the game, and will bring fresh ideas, organisation and enthusiasm.
“He proved with Everton that he has great qualities and we feel that West Ham United is a club that will give David the platform to display those qualities again.”
West Ham endured a difficult 2016-17 campaign, eventually finishing 11th, just five points ahead of 17th-placed Watford.
Goal understands the club deliberated over Bilic's future at the end of the season, eventually choosing to keep the Croatian and splash the cash in the summer, recruiting Joe Hart, Pablo Zabaleta, Marko Arnautovic and Javier Hernandez.
However, difficulties at the start of the current campaign have seen West Ham win just two games, and they are now 18th.
The Hammers are next in action against Watford, on November 19.