(AFP) - Pep Guardiola will leave Bayern Munich as head coach at the end of the season and be replaced by Carlos Ancelotti, club chairman Karl-Heinz Rummenigge told the newspaper Bild on Sunday.
"We appreciate everything Guardiola gave to our club and hope to celebrate a lot of success this season," Rummenigge told Bild.
"With Ancelotti, we have a new successful trainer for Bayern. He has had a lot of success as coach and has won the Champions League three times.
"He is a calm, balanced professional who can deal with stars and lets you play a flexible style of football - we have found what we were looking for and we are looking forward to working together."
The 56-year-old Ancelotti will bring a wealth of experience to Bayern having won the Champions League twice with AC Milan in 2003 and 2007, then with Real Madrid in 2014.
"It's a great honour for me that I will be trainer of such a great club as FC Bayern next season," said Ancelotti, who has signed a three-year contract until 2019, in a club statement.
Having joined Bayern in 2013 to much fanfare, Guardiola has so far won five titles with the Bavarian giants, giving him a career total of 19 as coach following his 14 titles in four years from 2008-2012 at Barcelona.
Guardiola flew home to Spain on Sunday and has given no indication of his future plans, but has been heavily linked to Manchester City.