Everon have confirmed the appointment of Ronald Koeman on a three-year deal.
The Dutchman had been strongly linked with a switch to Merseyside in recent weeks after emerging as the favourite to succeed Roberto Martinez at Goodison Park.
"Everton is pleased to confirm the appointment of Ronald Koeman as manager on a three-year contract to June 2019," a statement read on the club's official website.
"A European Cup winner as a player at Barcelona and winner of the European Championship with the Netherlands, Koeman has won eight trophies as a manager including three Dutch Eredivisie titles, the KNVB (Dutch) Cup and the Copa Del Rey in Spain.
"He is the only man to have played for and managed the ‘big three’ clubs in the Netherlands – Ajax, PSV and Feyenoord – and his managerial career has embraced spells at Benfica in Portugal and Spanish side Valencia. He has also served as assistant manager for the Netherlands and Barcelona.
"In each of the past two seasons he has led Southampton to seventh and sixth-place finishes in the Premier League and qualification for the UEFA Europa League."
Of the appointment of Koeman, chairman Bill Kenwright said: "We are really pleased to have secured the man who was our No.1 target from the moment we set out to appoint a new manager.
"Ronald has such a strong track record in the game, instantly commanding respect for what he achieved as a player and for his qualities and accomplishments as a manager.
"The hopes and aspirations that we all have as Evertonians are with him, as is our total support at Board, shareholder and fan level."
The new Toffees boss went on to add: "I am very excited to be Everton manager. I believe in the Club, in the team, in the fans and in our ability to achieve things in the future.
"Everton is a club with a great history and real ambition and it is a proud feeling for me to be part of what we want to go and do, together with the Chairman and Farhad Moshiri.
I am looking forward to meeting everyone at the Club and to preparing for a big season in the Premier League."
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