West Brom have released a club statement informing that chairman John Williams and chief executive Martin Goodman have been given notice of termination of their contracts.
The pair have been placed on gardening leave with immediate effect by owner Guochuan Lai, and director of the club's controlling company WBA Holdings Mark Jenkins is returning to be the new CEO.
The club are acting with conviction after seeing the team slip to rock bottom of the Premier League after a dire campaign so far, with manager Alan Pardew winning just one game since replacing Tony Pulis in November.
The statement read: "We would like to thank John and Martin for all their efforts since their appointments and wish them well for the future."
New CEO Jenkins, who held the position for 14 years, 10 of which were spent in the Premier League, added: "There is much to do but for now the focus must solely be on the remaining games of this season."
The Baggies are bottom of the league on 20 points from 27 games. They are seven points adrift of safety and put in a limp performance against the champions Chelsea on Monday night, losing 3-0 at Stamford Bridge.
It will take a monumental effort for Pardew to inspire his team to safety - Albion are the second-lowest scoring team in the division and have just three victories to their name in the Premier League so far.