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Wolves have appointed former Spain and Real Madrid boss Julen Lopetegui as the club’s new manager.
Lopetegui succeeds Bruno Lage, who was sacked on October 2 after winning just one of his final 15 games in charge.
He will begin work on November 14 when he officially takes charge at Molineux after Wolves’ final Premier League game before the World Cup against Arsenal.
Wolves approached Lopetegui last month but the 56-year-old Spaniard rejected the move due to personal reasons, forcing the Midlands club to explore alternative targets.
Queens Park Rangers boss Michael Beale appeared on the verge of filling the vacant manager’s position at Molineux until his last-minute commitment to the Championship club sent Wolves back to the drawing board.
Caretaker boss Davis received public backing from chairman Jeff Shi to oversee first-team matters through to the end of the year but, with Wolves languishing in the Premier League relegation zone, efforts to sign Lopetegui were revived.
Davis, Wolves’ under-18s coach, took temporary charge of the first team after Lage was sacked at the start of last month, assisted by James Collins and goalkeeping coach Tony Roberts.
Wolves remain in the bottom three after winning only one game since Lage left, against Nottingham Forest, with their only other point under Davis coming in last week’s 1-1 draw at Brentford.