West Ham's owners hope to appoint a "quality manager" to "inject fresh ideas" amid speculation Davis Moyes will replace the departed Slaven Bilic.
Bilic was sacked by the Hammers on Monday after another hugely disappointing weekend in the Premier League, West Ham thrashed 4-1 at home by Liverpool on Saturday.
It was the final straw for Bilic, who was relieved of his duties having failed to kick on this season despite investment over close season.
Joint owners David Sullivan and David Gold released a statement stating they had fired club-favourite Bilic with "heavy hearts", but they were left with no option after the Croatian failed to achieve the standards expected by the club.
They now turn their attention to appointing a successor with former Sunderland boss Moyes the heavily-backed frontrunner.
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