The former England midfielder was dismissed after Saturday's dismal 2-0 defeat against West Ham.
Everton has sacked Frank Lampard as its manager.
This is as the club languished 19th place in the Premier League and having lost eight of their last nine games in all competitions.
The former England midfielder was dismissed after Saturday's dismal 2-0 defeat against West Ham.
The result leaves Everton two points adrift of safety and with just 15 points from 20 league games this season.
Lampard spoke with owner Moshiri and chairman Bill Kenwright over the weekend, along with director of football Kevin Thelwell, and had accepted things will change after Saturday's 2-0 defeat at West Ham.