The club confirmed they have parted company with the Dutchman after a nightmare start to the season.

Everton have won just two and lost five of their opening nine Premier League games after spending almost £140m in the summer.

They are also staring at an early exit from the Europa League.

Koeman’s position looked under serious threat after Everton were thrashed 5-2 by Arsenal on Sunday and chairman Bill Kenwright and major shareholder Farhad Moshiri have decided to axe the Dutchman.

A statement from the club said: “Everton Football Club can confirm that Ronald Koeman has left the club.

“Chairman Bill Kenwright, the board of directors and major shareholder Farhad Moshiri would all like to express their gratitude to Ronald for the service he has given to the club over the past 16 months and for guiding the Club to seventh place in last season’s Premier League campaign.”

Koeman took training as normal this morning despite yesterday’s humiliating defeat to the Gunners at Goodison Park.

He admitted yesterday he did not know if he would be given time by the board to turn things around but vowed to fight on.

But Kenwright and Moshiri have decided a change is needed in order to rescue their season.

Everton face Chelsea on Wednesday in the Carabao Cup but are unlikely to have appointed a successor before then.

The Toffees return to Premier League action this weekend when they travel to Leicester.