Sheffield Wednesday have appointed Dave Jones as their new manager.
The npower League One promotion chasers moved for the former Cardiff boss after sacking Gary Megson on Wednesday night.
Reports surfaced last week that Megson's job was under threat and even victory in the Steel City derby on Sunday was not enough to save the 52-year-old.
Jones and Paul Ince were installed as favourites for the Hillsborough hotseat with chairman Milan Mandaric seeking a swift resolution.
He has turned to Jones, 55, who returns to management after he left Cardiff last May following successive play-off defeats which saw them miss out on promotion to the Barclays Premier League.
Jones, who has signed a three-and-a-half-year contract, said: "This is a fantastic football club and a fantastic challenge for me.
"Promotion is the first ambition and from there is to try and get to the Holy Grail, which is the Premiership.
"I've had a lot of calls asking why I have dropped down to League One but I don't see it that way. I look at the size of the club and think this is a club that can go places.
"After talking to the chairman and seeing what he wanted and what his plans are, I had no hesitation in choosing here because it is a huge club that should not be where it is now."
Jones has a wealth of experience having taken charge of nearly 800 senior games during a 15-year managerial career.
His first role came with Stockport in 1995 and he guided them to the second tier prior to joining Southampton, earning the LMA Premiership manager of the year award in 1998 during his three years on the south coast.
Jones then moved to Wolves in 2001 and claimed promotion to the Premier League before further success with Cardiff.
During his time in south Wales, Jones led Cardiff to the FA Cup final in 2008, losing to Portsmouth, and the play-off final two years later only to suffer further heartache as they lost to Blackpool.
Chairman Milan Mandaric said: "Dave is a very successful football manager and I am delighted to welcome him to Sheffield Wednesday.
"It was essential we made a swift appointment with 13 games to go this season and I am convinced we have the right man for this job.
"I like his style of football and his approach to the game but more than anything else, he is a builder of clubs and he will help to galvanise Sheffield Wednesday.
"His first objective is to get us out of League One and back into the Championship and then rebuild the club for the Premier League.
"I always look for someone who shares my ambitions and my objectives and Dave Jones is that man."