Everton manager David Moyes has been confirmed as Sir Alex Ferguson's successor following the announcement that the 71-year-old will end his illustrious reign with Manchester United at the end of the season.
Moyes was identified as the frontrunner ahead of Jose Mourinho to replace Ferguson after the revelation on Wednesday morning, and the 50-year-old has signed a six-year contract with the Premier League champions.
The two-time LMA Manager of the Year's current deal with Everton expires at the end of the campaign, making for a relatively simple transition from Goodison Park to Old Trafford, but Moyes faces the daunting prospect of succeeding the most prolific manager in the history of British football.
Moyes, however, is relishing the opportunity to take on the huge job of replacing Ferguson after his 26-year tenure of continued success, and is eager to begin the next chapter in his managerial career.
“It’s a great honour to be asked to be the next Manager of Manchester United," he said. "I am delighted that Sir Alex saw fit to recommend me for the job. I have great respect for everything he has done and for the Football Club.
“I know how hard it will be to follow the best manager ever, but the opportunity to manage Manchester United isn’t something that comes around very often and I’m really looking forward to taking up the post next season.
“I have had a terrific job at Everton, with a tremendous chairman and Board of Directors and a great set of players. Between now and the end of the season, I will do everything in my power to make sure we finish as high as possible in the table.
“Everton’s fantastic fans have played a big part in making my years at Goodison so enjoyable and I thank them wholeheartedly for the support they have given me and the players. Everton will be close to me for the rest of my life.”
The Manchester United board voted unanimously to appoint Moyes following the recommendation of his predeccesor, with Ferguson having identified the Glasweigan as his potential replacement a number of years ago.
"When we discussed the candidates that we felt had the right attributes we unanimously agreed on David Moyes," Ferguson explained.
"David is a man of great integrity with a strong work ethic. I've admired his work for a long time and approached him as far back as 1998 to discuss the position of Assistant Manager here. He was a young man then at the start of his career and has since gone on to do a magnificent job at Everton.
"There is no question he has all the qualities we expect of a manager at this Club."
Moyes will preside over two more games with Everton before his 11-year tenure with the club ends, and he will officially take up his new position as Manchester United manager on July 1.
The Toffees host West Ham at Goodison Park on Sunday - Moyes' final game in front of the Everton home fans - before the final game of the season the following weekend away to Chelsea.
Ferguson, meanwhile, will lead Manchester United out at Old Trafford for the final time this weekend when the Red Devils face Swansea, with the club's last match of the campaign against West Brom at the Hawthorns.