The Spaniard is taking over from David Moyes, whose departure has already been announced.
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The Hammers will continue their shift towards a European-style leadership structure.
The club's technical director Tim Steidten will be the man in charge of recruitment.
He will work with Lopetegui to bring in a centre-forward, right-back and at least one new centre-half.
Fulham defender Tosin Adarabioyo and Wolves captain Max Kilman are of interest.