Ole Gunnar Solskjaer has left his position as reserve team manager at Manchester United to become manager of Norwegian side Molde.
Solskjaer, 37, left Molde for Old Trafford in 1996 and, following his retirement in 2007, has worked for United in a coaching capacity.
“Ole has accepted the position at Molde and he goes with our best wishes,” Sir Alex Ferguson said on Tuesday. “Ole has had a good period with our reserve team, which has given him a foundation to start somewhere else.
“He feels it is time he went back to Norway, which also helps his family situation. He has been a fantastic servant to us and I am sure he will do well.
“He has worked with some really good young players in our reserve team and has contributed to their development.
“Once he gets experience of managing a club in its own right, who knows where it will take him? Molde is a very progressive club in Norwegian football, so this is a good start for him.”
Gary Neville has been touted as a possible successor as reserve-team manager, but Ferguson denied any decision had been made.
“I have no idea who takes over the reserves,” he said. “We will just leave it at the moment.”
Solskjaer replaces former Manchester City striker Uwe Rosler as Molde boss and will begin the role in January.
At a press conference on Tuesday, he said: “Molde FK has historically had a big focus on youth and the young players have shaped both Molde FK and Norwegian football. The focus will remain on youth.
“This is a dream job. I have discussed my future career with Sir Alex Ferguson at Manchester United and his advice was clear: You should choose to work at a club where you like the owners, directors and other people there. The choice was therefore easy, and my family wants the same thing.”
Molde chairman Erik Berg said: “Ole Gunnar could afford to pick and choose from an array of exciting jobs, but he has chosen to become manager of Molde FK.
“Uwe Rosler and (assistant) Gunnar Halle have shown during the autumn that there is a lot right with this team. Uwe took the job during a critical time, and he deserves a big thank you. He brought out the energy in the team and the club, and he made Solskjaer’s decision easier.”
Solskjaer wrote his name into United folklore when he came off the bench to score the winning goal in the 1999 Champions League final triumph over Bayern Munich.