Wolves have confirmed Steve Davis will remain as caretaker head coach until 2023 as their search for a permanent boss goes on.
Davis assumed caretaker duties after Bruno Lage was sacked earlier this month with the club in the relegation zone, before former Sevilla head coach Julen Lopetegui reportedly rejected the job.
Since taking over as caretaker, Wolves have lost two of their three matches, though they did claim victory over fellow strugglers Nottingham Forest between those two defeats.
The announcement comes after earlier reports that Queens Park Rangers' Michael Beale had turned down Wolves' approach to take over at Molineux.
In a statement on the club's official website, chairman Jeff Shi: "In the short time Steve and his team have been in interim charge of the first-team, we have already seen improvements to the group.
"We have no plans to rush our search for a new permanent head coach and will not compromise in any way our approach to appointing the person we believe to be the perfect fit for our club, our squad and the role of head coach at Wolves."
