Manchester United have confirmed David Moyes as their new manager.
The 50-year-old has signed a six-year-contract with the Old Trafford outfit and will join officially on 1 July after completing the season with Everton.
Moyes has the backing of Sir Alex Ferguson, who confirmed his retirement yesterday, and his first official game will be the Community Shield against either Manchester City or Wigan at Wembley on 11 August.
Moyes said: "It's a great honour to be asked to be the next manager of Manchester United.
"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."
Having decided to end his near 27-year stint at United this summer, Ferguson quickly came to the conclusion his fellow countryman would be the right man to follow.
"When we discussed the candidates that we felt had the right attributes, we unanimously agreed on David Moyes," said Ferguson.
"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."
With Moyes committed to concluding the season at Everton, he will not be introduced as United manager until after the campaign is over.
"I have had a terrific job at Everton, with a tremendous chairman and board of directors and a great set of players," Moyes added.
"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 enormous length of Moyes' contract offers an insight into why United did not wish to appoint Jose Mourinho.
For the Red Devils hierarchy clearly view the appointment as more than that of just a manager, and see Moyes as someone who will embed himself in the traditions of the club.
"I have always said that we wanted the next manager to be a genuine Manchester United man," said Sir Bobby Charlton.
"In David Moyes, we have someone who understands the things that make this such a special club.
"We have secured a man who is committed to the long-term and will build teams for the future as well as now. Stability breeds success.
"David has tremendous strength of character and recognises the importance of bringing young players through and developing them alongside world class talent.
"At United, I think David will be able to express himself.
"I am delighted he has accepted and I'm looking forward to working with him."