According to BBC Sport, the Blues boss had been expected to take charge of Wednesday’s Carabao Cup trip to Chelsea after taking training on Monday morning but Koeman met with Bill Kenwright and Farhad Moshiri at Finch Farm shortly after.
In statement released on the Everton website, the club stated: “Chairman Bill Kenwright, the Board of Directors and Major Shareholder Farhad Moshiri would all like to express their gratitude to Ronald for the service he has given to the Club over the past 16 months and for guiding the Club to seventh place in last season’s Premier League campaign.”
With the Blues sitting in the bottom three of the Premier League table, the search now begins for their third permanent manager in as many years following the departure of the 54-year-old who replaced Martinez in the summer of 2016.
The Dutch boss had to go
Despite his lofty salary and money spent on the squad in the summer, Koeman had to go as Everton manager.
Without a win in four in the Premier League and with the Blues sitting in the bottom three of the table, the board quite simply had to act, regardless of the Dutch boss believing he could be able to turn it around.
Prior to the 2-1 defeat at home to Lyon, Koeman said he believed he had the backing of the board but with Moshiri and Kenwright in town for the Arsenal result, it looks as if that backing was quickly taken away.
The Lyon defeat means the Europa League campaign is likely over and with plenty of time to turn the domestic campaign around, any new boss has the time to turn the season around before it becomes an impossible task.
A shortlist will have to be drawn up and quickly to find the Dutchman’s successor to give the club a chance to hire the right man.
Funds will likely be available for a new manager in the January transfer window to address the issues within the squad but the winter window isn’t the greatest time to start throwing money at big problems.
Former Borussia Dortmund manager Thomas Tuchel is available and has in the past stated his desire to manage in the Premier League. He has reportedly turned down the Leicester City job but it wouldn’t hurt the Blues board to at least ask.
Watford manager Marco Silva tops the list for many Everton supporters but with his new side flying high, he may prove difficult to lure away from Vicarage Road.
In a more ambitious effort, Carlo Ancelotti, recently let go as Bayern Munich boss, is looking to manage in the Premier League once again.