AC Milan announced on Monday they had sacked coach Massimiliano Allegri and a host of senior club management after missing out on next season's Champions League.
The 19-time Serie A winners lost 2-1 at home to Cagliari on Sunday in the final game of the league game season denying them a return to European football's leading competition.
Allegri, 58, was appointed last May, returning to the northern club 11 years following his first tenure ended, after they also failed to qualify for the Champions League.
Former striker and now RedBird advisor Zlatan Ibrahimovic keeps his position despite being heavily criticised by the seven-time European Cup winners' fans.
"After the disappointment of last year, the mandate ownership set for the club was to return to the Champions League and to establish a foundation for winning consistently at the top of Serie A," AC Milan's owners RedBird capital said.
"It is now time for change and a comprehensive reorganisation of football operations.
"Effective immediately, we are parting ways with CEO Giorgio Furlani, sporting director Igli Tare, head coach Massimiliano Allegri and technical director Geoffrey Moncada.
"We thank each one for their hard work and dedication to AC Milan during their respective tenures.
"Further announcements regarding the next appointments will be made in due course - with the goal to be ready and well prepared for the next season," they added.
Milan finished one point below Como in the fourth and final Champions League spot after the loss to lowly Cagliari and Cesc Fabregas' side's win at Cremonese.
They had started the day in third.
'COMPLETELY INCONSISTENT'
They spent more than half of the season in the top two of the table before an end of season slump which included three losses, a draw and just one win.
After the Cagliari shock former Juve boss Allegri had said nothing about his future at the San Siro.
"For the majority of this season, we were in the top two positions in Serie A, with a credible shot at competing for the Scudetto," RedBird said.
"The final stretch was completely inconsistent with the performance up to that point, with last night's disappointing loss in the final game turning the season into an unequivocal failure," they added.
Milan will start the new Serie A season on the weekend of August 22-23 and will also feature in the second-tier Europa League.
Red Bird will now look for a fifth man in charge since they took over the club in 2024.
Italian media have linked Antonio Conte, who has just left Napoli and Atalanta's Raffaele Palladino, with the Milan job.