Fulham have officially sacked Claudio Ranieri after just three wins in 17 games at the helm.
The decision comes after a meeting between Ranieri and Fulham executives on Thursday afternoon.
“Following our discussion this afternoon, Claudio Ranieri agreed to my decision that a change was in the best interest of everyone,” chairman Shahid Khan told his club’s official website.
“No surprise to me, Claudio was a perfect gentleman, as always. Claudio’s tenure at Fulham didn’t produce the outcome we anticipated and needed when I appointed him as manager in November, but be assured he is not solely to blame for the position we are in today.
“Claudio walked into a difficult situation, inheriting a side that gained only one point in its prior eight matches, and he provided an immediate boost by leading our Club to nine points in his first eight matches as Manager.
“Though we were unable to maintain that pace thereafter, I am grateful for his effort. Claudio leaves Fulham as our friend and he will undoubtedly experience success again soon.
“I am asking Scott Parker to serve as our Caretaker Manager. Scott’s immediate assignment is merely to help us stabilise, grow and rediscover ourselves as a football club.
“If Scott can answer that challenge, and our players respond to the opportunity, perhaps victories will follow in the months ahead.
“What’s most important at this moment, however, is to regroup in a smart and deliberate manner that will serve our long-term vision for sustainable success.
“If we’re able to do that and win some matches to make a stand late in the season, all the better.”
Ranieri added: “I am obviously disappointed with the recent results and that we could not build on the good start we made following my appointment.
“Finally, I would like to thank the Club, the players and the fans for the support they have given me during my time at the Club.”
The Italian took over in November and led the Cottagers to their first Premier League win in two months in his first game against Southampton.
However they lost eight of their last nine matches under the 67-year-old, who led Leicester City to the Premier League title in 2016.
Ranieri’s final game coincidentally ended in defeat to Southampton, leaving the Londoners 10 points adrift of safety.