Carlo Ancelotti will become manager of Chelsea after signing a three-year contract with the English club.
The 49-year-old ended an eight-year spell at AC Milan yesterday, a 2-0 victory at Fiorentina clinching third spot in Serie A and an automatic berth in next season's Champions League.
Ancelotti replaces temporary coach Guus Hiddink, who has returned to take charge of the Russian national team after a 3-month stay at the London club which concluded with Saturday's FA Cup final victory against Everton.
"Carlo was the outstanding candidate for the job," read a Chelsea statement. "He has proved over a long period his ability to build teams that challenged for, and have been successful in, major domestic and European competitions.
"He also had a highly successful playing career in those competitions and therefore brings unparalleled all-round experience to the job."
Ancelotti is one of only six men to have won the European Cup as both a player (1989 and 1990) and coach (2003 and 2007). He also guided Milan to the Coppa Italia in 2003, the Serie A title and Italian Supercup in 2004, the UEFA Super Cup in 2003 and 2007, and the FIFA Club World Cup in 2003 and 2007.
Chelsea are scheduled to play a pre-season friendly with Milan in Maryland, USA on July 24.