AC Milan parted ways with coach Massimiliano Allegri and sporting leaders on Monday, the day after missing a Champions League berth in the Serie A finale.
A 2-1 home defeat against Cagliari saw Milan finish fifth and Como clinch the final Champions League berth in fourth on Sunday.
"Effective immediately, we are parting ways with CEO Giorgio Furlani, Sporting Director Igli Tare, Head Coach Massimiliano Allegri and Technical Director Geoffrey Moncada," a club statement said.
Milan said that while "for the majority of this season, we were in the top two positions in Serie A, with a credible shot at competing for the Scudetto ... the final stretch was completely inconsistent" and "last night’s disappointing loss in the final game turning the season into an unequivocal failure.
"It is now time for change and a comprehensive reorganization of football operations."
Allegri coached Milan only for one season after a previous term 2010-2014 with the 2011 Serie A title.
It was not known immediately who could succeed Allegri. Former Milan midfield great Gennaro Gattuso, who stepped down as national team coach after failing to qualify for the World Cup, is reportedly set to take over at Lazio where Maurizio Sarri is expected to go.
Milan said: "Further announcements regarding the next appointments will be made in due course - with the goal to be ready and well prepared for the next season."
