Southampton chairman Ralph Krueger says they'll move quickly to replace Mauricio Pochettino.
Pochettino was named new manager of Tottenham yesterday.
"The club has been on a constant path of growth since the arrival of Markus Liebherr in 2009," he said in a statement on saintsfc.co.uk.
"This growth took place before Mauricio came, it continued strongly under his leadership, and it will continue into the next season.
"The board's job is to find opportunity in this challenge and to continue to move the club forward.
"We have begun the search for a new high-calibre manager. We will be looking for a manager that shares our values, our principles and our philosophy.
"A manager who can continue to grow the first-team and build on our strong foundation - a foundation led by an ambitious vision and plan that continues to build on our world-class academy, our amazing 129-year heritage and our excellent staff, and rewards our loyal and passionate fan base."
