Leicester City Chairman Milan Mandaric this evening (Thursday) unveiled Ian Holloway as the club's new manager.
Holloway, 44, has signed a three-and-a-half-year-contract with the club and will take charge of the side for the first time on Saturday when the Foxes face Bristol City at Ashton Gate.
Coach Gerry Taggart and goalkeeping coach Mike Stowell will continue their roles at the club and will be part of the new structure.
Mandaric had stated that he would search high and low to bring in a manager who would bring success back to the Walkers Stadium.
And in Holloway he says he sees a man who 'ticks all the boxes' as the Foxes continue on their quest for a return to the Premiership.
City chairman Milan Mandaric said: "I am delighted to be able to unveil Ian Holloway as our new manager.
"It is fair to say that from the start of this process he has been at the forefront of our thoughts and to have finally captured him gives me great joy.
"It has been a long and tough season to date for everyone connected with this football club, but now I am confident that I have got the man to take us forward. He has honesty, enthusiasm and drive. He plays a good style of football and I believe he is a manager that my supporters will enjoy and respect.
"We now travel to Bristol City before taking on Cardiff City in front of what looks to be a sell-out crowd on Monday evening. I am sure our supporters will back Ian and his players all the way."
Holloway leaves Plymouth in seventh position in the Championship - having won six and drawn six of their 16 games to date for the campaign.
He added: "Once you make a decision in life it has to be from the heart. I just felt that I couldn't turn this down. I can't wait to get started.
"I have met the lads down the training ground I have told them all about how I feel and what I expect. Hopefully, in the weeks to come, people will understand and get to know me.
"I am going to be so enthusiastic because I love everyday of my life. This is a whole new challenge, which throws me into a whole new ballpark. I feel like I have been acting in Coronation Street all my life and now i'm in King Lear."
Meanwhile, the club can also confirm that caretaker manager Frank Burrows has left the club by mutual consent.
Burrows stepped in as caretaker boss following the departure of Gary Megson to Bolton Wanderers last month.
Mandaric added: "I would like to place on record my sincere gratitude to Frank and the staff for the job they have done here during this interim period.
"Frank is a very good and honest man and I wish him all the best for the future."
Holloway began his playing career at Bristol Rovers - progressing through the youth team to the first team and making his debut as an 18-year-old in 1981. It would be the first of three spells at his hometown club during his playing days.
A move to Wimbledon followed in 1985 - but he would stay at Plough Lane for just six months before moving to Brentford.
Holloway would go on to make 36 appearances with the London club, and spent the end of the 1986-87 campaign at Torquay on loan - helping the Seagulls to retain their league status during a five game stint.
A return to the Pirates followed at the start of the following season - with Holloway making a total of 214 appearances during a four-year period.
In 1991 he followed manager Gerry Francis to QPR for £230,000 - getting his first crack at the top flight in the newly formed Premiership.
Holloway went on to experience the best days of his playing career at Loftus Road - becoming a big favourite with the Rangers fans in the process.
After five years with the West London club Holloway was named player-manager at Bristol Rovers in 1996 - their debut season at Bristol's Memorial Ground.
He led the Pirates 17th place in Division Two (now League One) in his first season, before gaining a place in the Second Division play-offs the following year. He finally hung up his boots in 1999 - having amassed more than 400 appearances for Rovers.
Holloway was appointed manager of QPR in February 2001, taking over the reigns with the side in desperate trouble at the wrong end of the table.
Despite his best efforts, QPR finished second from bottom and were relegated to the third level, but Holloway stayed on and rebuilt the side.
After steadying the ship in 2001-02, and a near miss in 2002-03, Holloway and QPR were promoted back to the second level in 2004, finishing second behind Plymouth Argyle.
Holloway's first full season in The Championship ended with a respectable 11th place, and during the following season 2005-06, the club continued to hover around mid-table.
He departed in February 2006 before being appointed as Argyle manager four months later.
The Pilgrims finished 11th in the Championship last season with 67 points from 46 games.
