Claudio Ranieri has left the Fulham following the 2-0 defeat to Southampton on Wednesday 10th of June, with Scott Parker named as caretaker manager.
Ranieri at Slavisa Jokanovic as manager in November but earned only three wins from 16 league matches, with 10 defeats.
"Following our discussion on this afternoon, Claudio Ranieri agreed with my decision," Fulham's American billionaire owner Shahid Khan said. "No surprise to me, Claudio was a perfect gentleman, as always. Claudio's tenure at Fulham did not produce the outcome. we are in today. "
Said Ranieri: I would like to thank you for the rest of the day. during my time at the Club. "
In welcoming Ranieri, Khan said it was a "risk-free" decision.
Chants of "You don't know what you're doing" rank out from Fulham's away supporters as the team's loss at Southampton on Wednesday.
Later, the banner was unfurled that read: "Risk free? Are you watching Tony Khan?" He is the son of Shad Khan and the director of football operations.
When Ranieri took charge, Fulham was bottom and had five points from 12 matches. The team is now 19th and has lost seven of the past eight Premier League games.
Fulham have conceded the most goals in the Premier League this campaign with 63,
The club's next fixture is a home clash with local rivals Chelsea on Sunday, before games against Leicester, Liverpool and Manchester City.
Information from The Associated Press was used in this report.