Dave Jones has been appointed the new manager of debt-ridden Cardiff City.
Jones becomes Cardiff's fourth manager in five years
The former Southampton and Wolves boss has signed a three-year deal to succeed Lennie Lawrence, who is staying on in a consultancy role for six months.
Jones, 48, has been out of work since he was sacked by Wolves in November last year after a poor run of form in the Championship.
Cardiff City also announced that Peter Ridsdale has become the club's executive deputy chairman.
The former Leeds United chairman joined the Bluebirds as a consultant in March on a three-month contract to help tackle the club's £30m debts.
Former chief executive David Temme is now in charge of Cardiff's new stadium project, which owner Sam Hammam describes as "the single most important and strategic activity that we have to manage".
Jones, who becomes the fourth Cardiff manager under Hammam's five-year reign at Ninian Park, said he fully accepts that his task is to take the club into the Premiership.
"I'll try to do my best to do what this club deserves, which is to try to get them where everyone wants to go," said Jones.
"So with the help of Sam and Peter, that's what we're going to try to do.
"It'll be hard, we know that. But with everything put into the pot - luck, good players, coaches, manager - we'll come up with the right formula.
"I'm also privileged to be in a position where I'm now back in the game, and that's thanks to Sam."
Jones took over at Wolves in January 2001 and guided them to promotion into the Premiership through the play-offs almost two years ago to the day.
But they finished bottom of the top-flight table the following season as they lost their survival battle.
Jones began his managerial career at Stockport in 1995, winning promotion to the old First Division in his second season before getting his big break in the Premiership with Southampton.
The ambitious Bluebirds finished four points above the Championship relegation zone last season.
But Jones is unlikely to be given much of a transfer kitty to strengthen his squad, and his first task could be to oversee the sale of Cardiff's best players to raise much-needed funds.
"If that what it takes then that's what we'll do," said Jones. "I'm sure there'll be a lot of disappointed people when certain players leave.
"But the only way to make sure to keep your players is to make sure you're playing in the top division."
Assistant manager Terry Burton and the rest of the back-room staff will remain at the club.