Everton have appointed PSV's Marcel Brands as the club's new director of football, replacing Steve Walsh.
Walsh was recruited from Leicester City in 2016 but came under pressure after a £150million splurge on players such as Gylfi Sigurdsson, Michael Keane and Jordan Pickford failed to propel Everton into the Premier League's top six.
The Toffees struggled early in the season before Sam Allardyce - appointed following the sacking of Ronald Koeman - salvaged an eighth-place finish.
And Walsh has now, like Allardyce, been relieved of his duties, with Brands given the role following success with RKC Waalwijk, AZ and PSV in the Eredivisie.
Brands helped AZ win the Dutch top flight before playing a key role in PSV's three titles in the last four years.
"It is a privilege to be joining Everton as director of football and I am incredibly excited to take on this challenge," said Brands.
"The fantastic passion of the fans for their club, the magnificent history of the club over the years and the ambition and purpose we have as people tasked with driving the club forward all mean that we need to be competing for honours against the Premier League elite.
"It is no straightforward challenge but this must be our motivation each and every day.
"I am looking forward to working with [owner] Farhad Moshiri and Chairman Bill Kenwright, whom I thank for entrusting me with this role and responsibility, and I am also looking forward to working with the Board of Directors and with our new CEO, Denise Barrett-Baxendale. I know we have very committed people here who want only the best for Everton.
"It is only a challenge such as this which could have persuaded me to leave PSV where I am indebted to the many people whose collective effort led to some great achievements.
"Now we will look to build something really strong and lasting here at Everton."
Barrett-Baxendale added: "On behalf of the board and Mr Moshiri, I'd like to express our thanks to Steve Walsh, our first ever director of football, who has now left the club. We all wish Steve well for his future."