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Manager Roberto Di Matteo has parted company with Chelsea, the club has announced.
Di Matteo won the Champions League and FA Cup as caretaker manager last season and was given a two-year deal in June.
But in the wake of the 3-0 defeat to Juventus, which has left the Blues on the brink of a Champions League exit, he has left Stamford Bridge.
"The club will be making an announcement shortly regarding a new first team manager," a statement said.
After an impressive start to the season, the Blues have won two of their last eight games.
They sit third in the Premier League table, four points behind leaders Manchester City.
The statement continued: "The team's recent performances and results have not been good enough and the owner and the board felt that a change was necessary now to keep the club moving in the right direction as we head into a vitally important part of the season.
"The club faces a difficult task ahead in qualifying for the knockout stages of the UEFA Champions League as well as maintaining a strong challenge for the top of the Premier League while competing in three other cup competitions.
"Our aim is to remain as competitive as possible and challenge strongly on all fronts."
