Fremantle Dockers' president Dale Alcock said the club will look widely to find a new coach and chief executive, following the departure of Ross Lyon and Steve Rosich earlier today.
Speaking to media this afternoon, Mr Alcock praised Mr Lyon and Mr Rosich for their contributions to the team, noting however that despite their contributions, the Dockers hadn't made finals in four years.
"This isn't acceptable to the board, the players and most importantly our supporters," he said.
"To succeed in addressing the challenges that lie ahead, we need high performance and consistency both on and off field.
"We need to change and we need to evolve."
Mr Alcock said the search for a new coach and chief executive would start today.
While Peter Bell and Justin Longmuir have emerged as leading candidates to take over as chief executive and coach respectively, Mr Alcock said the board would be casting as wide a net as possible to find the best people to fill the positions.
"Nobody has been anointed to take over either of these two roles," he said.
Two panels will oversee the new appointments.
In the interim, assistant coach David Hale will step into Mr Lyon's role on Sunday, when the Dockers play against Port Adelaide at the Adelaide Oval.
Chief operating officer Graeme Parker will meanwhile serve as CEO on an interim basis.
In a statement, Mr Alcock said the board had a duty to act in the best interest of its members and supporters, and the team required a new coach and chief executive as a result.
“Leadership change is necessary to begin the process of renewal and to set our course for the next 10 years," he said.
“This leadership change is about transforming our whole club.
"We need to act now to ensure we are reinvigorated and reenergised for success.
"We will ensure we nurture and respect what we value highly, while being driven in the pursuit of sustained on-field success and financial prosperity.”
In a statement, Mr Rosich said he was proud of his time at the club and what it had achieved during his tenure.
Mr Lyon had coached the Dockers since 2012, in which time he achieved a winning percentage of 52.45.
Addressing media this afternoon, Mr Lyon said he had been unconditionally supported throughout his tenure, and that though he didn't agree with the club's decision he respected it nevertheless.
"I love football ... the game has taken myself to places I never thought I'd go," he said.
"I've been privileged, I love the game, I love coaching.
"I leave not having achieved what I wanted, but the club, I wish them all the best."