The sackings were announced hours after West Brom lost 3-0 to Chelsea at Stamford Bridge on Monday night.
Unless the Baggies have a huge upturn in form, and points, in the final months of the season then they will be relegated to the second-tier for the first time since 2010.
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They won their opening three games of the campaign before their form dramatically dipped. Alan Pardew's position as manager is understood to not be under threat.
West Brom owner Guochuan Lai appears exhausted of counting losses and has taken the drastic decision to sack Chairman John Williams and chief executive Martin Goodman in response to the club's woeful Premier League campaign.
Williams was named chairman in 2016, shortly after the club was purchased by Chinese billionaire Guochuan Lai.
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The rest of the football world questioned the wisdom of getting rid of a manager who had an unblemished record where relegation was concerned and was widely regarded as the safest pair of hands when it came to dodging the drop.
The Baggies made a decision to act at boardroom level following a disastrous Premier League campaign to date that has left them seven points adrift of safety at the foot of the table. "We had gone through a managerial change..."
Albion, a Premier League side for the past eight years, return to action on Saturday with an FA Cup last-16 tie against Southampton.
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