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 July 1 after completing the season with Everton.
Moyes has the backing of Sir Alex Ferguson, who confirmed his retirement on Wednesday, and his first official competitive game will be the Community Shield against either Manchester City or Wigan at Wembley on August 11.
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 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."
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," he 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."
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."