Manchester United are underway with a "thorough process" to appoint a new manager, according to football director John Murtough.
The Red Devils named Ralf Rangnick interim boss until the end of the season after Ole Gunnar Solskjaer left his post in November following a 4-1 defeat to Watford.
Rangnick is set to take on a two-year consultancy role at Old Trafford following 2021-22, although he is not out of the running as a prospective full-time manager.
Paris Saint-Germain boss Mauricio Pochettino and Ajax's Erik ten Hag are two of the other favourites to become the fifth permanent appointment since the retirement of Alex Ferguson in 2013.
Speaking as United announced their financial results for the quarter ending in December 2021, Murtough said: "We are now conducting a thorough process for the appointment of a new permanent manager who will take charge this summer with the objective to get us back to challenging for those domestic and European titles.
"In the Premier League, we saw improved results under interim manager Ralf Rangnick, following a run in the October and early November period that had seen the departure of Ole Gunnar Solskjaer as manager.
"We know that consistency is key as we strive for a top-four finish this season.
"I want to reiterate however that this is not the ultimate objective for Manchester United, and everyone at the club is focused on challenging for the top trophies."
Richard Arnold, who took over chief executive duties from Ed Woodward in February, said winning trophies was United's "central objective as a football club and we are focused on building a winning culture to achieve it".
United announced revenue growth of 7.3 per cent for the second fiscal quarter of the year, with increased matchday and commercial income helping to move the club away from the difficulties wrought by the coronavirus pandemic.
Net debt has increased by 8.6 per cent to £494.8million, with employee benefit expenses rising by £16m – or 19.6 per cent – due to "investment in the first team playing squad".
"Everyone associated with Manchester United should have belief in the opportunities that lie ahead of us, both on the pitch and in the way we engage and serve our fans," said Arnold.
"We have a clear vision and we are implementing a strategy to win with an empowered leadership team to drive that forward.
"We will foster a culture of excellence through a world-class football environment, while strengthening the role of fans at the heart of the club and harnessing the power of Manchester United to make a positive impact on people, the environment and society.
"All of this will be supported by a sustainable operating model that ensures the club is strong for the present and secure for the future."