Newly promoted Premier League side Bournemouth sacked manager Scott Parker on Tuesday, just three days after its 9-0 humiliation against Liverpool for a third successive defeat.
"I would like to place on record my gratitude to Scott and his team for their efforts during their time with us," the club's owner, Maxim Demin, said in a statement.
"However, in order for us to keep progressing as a team and a club as a whole, it is unconditional that we are aligned in our strategy to run the club sustainably."
The club said the search for a new manager would begin immediately and that first team coach Gary O'Neil would take over in the interim.
Demin's comments appear to be a response to Parker's post-match interview at Anfield after the Premier League record-equalling defeat.
Parker said that he was "not surprised" at the result and that he needs some new signings to strengthen his side, which had finished second in the second-tier Championship last season.
"It doesn't surprise me. This is currently where it is at this moment in time. The players need help. Today proved too big a challenge. The levels were far too big," he said after Saturday's defeat.
"We've got a decision to make as a club. There will be days like this. Time will tell. It's a huge disappointment, a real humbling experience.
"We have some days where hopefully we can get some help in and support and help the current team, who came up from the Championship," he added.
After winning their opening game of the season, at home to Aston Villa, the Cherries have suffered defeats in three straight games, but those fixtures came against Big Six opponents in Manchester City, Arsenal and Liverpool.
