Port Vale have appointed Darrell Clarke as their new manager after agreeing a compensation package with Sky Bet League Two rivals Walsall.
Clarke has signed a deal at Vale Park until 2024 and replaces John Askey, who was sacked last month.
Port Vale currently sit 18th in League Two, seven places below Walsall, who announced his departure by mutual consent.
Former Salisbury and Bristol Rovers boss Clarke will be tasked with turning around the fortunes of Vale – who had been working under temporary boss Danny Pugh following Askey's sacking.
"We are over the moon to have been able to bring in a manager of Darrell's calibre," Vale co-owner and chair Carol Shanahan said.
"He has such an impressive CV and his pursuit for excellence and thirst for success matches exactly our ambitions for Port Vale."
Clarke will be in charge for Saturday's trip to Leyton Orient, looking to improve a run which has seen the team win just two league games since mid-December.
He led Walsall to two victories over his new club this season, with the Saddlers appointing Brian Dutton as head coach until the end of the current campaign.