Jokanovic guided Fulham into the Premier League last season but has struggled in the top flight.
Fulham are bottom with five points from 12 games after the 2-0 defeat to Liverpool on Sunday.
And Khan says he was hoping he wouldn’t have to make a change so early into the new season – and insists he would not have made the change without a replacement already lined up
“I wasn’t anticipating having to make this announcement related to Slavisa and wish the circumstances were such that I didn’t have to,” Khan said.
READ MORE: CLAUDIO RANIERI APPOINTED NEW FULHAM BOSS
“But our path this season has led me to make what I know is the correct decision, at the right time, for our players, the Club and our supporters,” Khan said.
“Slavisa will always have my appreciation and respect for everything he did to return Fulham to top-flight football. I am hoping everyone in the Fulham Family shares my heartfelt sentiments for Slaviša and joins me in wishing him success and good fortune, wherever his next stop may be.”
Fulham have appointed Claudio Ranieri as his replacement on a ‘multi-year’ contract.
And Khan thinks his appointment is a no brainer after his previous success in the game.
“Making a change without having the right answer or succession plan was not an option, so having someone of Claudio’s calibre ready to accept our challenge was comforting but, most of all, essential,” Khan said.
“Claudio is risk-free and ready-made for the Premier League, and particularly so for what we need at this moment at Fulham.
“His recent body of work with Leicester City is literally legendary, and then you look at Claudio’s experience with Chelsea and big clubs throughout Europe, and it’s pretty evident we are welcoming an extraordinary football man to Fulham Football Club.
Ranieri won the Premier League with Leicester in 2016 but was sacked less than a year later after sliding towards relegation.
He then took over at Nantes in Ligue 1 but left in the summer.
“It is an honour to accept Mr. Khan’s invitation and opportunity to lead Fulham, a fantastic club with tradition and history,” Ranieri said.
“The objective at Fulham should never be to merely survive in the Premier League. We must at all times be a difficult opponent and should expect to succeed.
“This Fulham squad has exceptional talent that is contrary to its position in the table.
“I know this team is very capable of better performances, which we will work on straight away as we prepare for Southampton at the Cottage.”
Fulham have now been priced at 5,000 for the Premier League title, the same price Leicester were at the beginning of their title winning season.
Alex Apati of Ladbrokes said: “Ranieri’s appointment has forced us to turn our attention to Fulham achieving the unthinkable next season. It’s only fitting they’re the first team since Leicester to be priced 5000/1 to win the title.”
Fulham face Southampton in their next match before playing Chelsea and then Ranieri’s former side Leicester.