Fulham handed Slavisa Jokanovic the reins at Craven Cottage on Sunday, 49 days after the west Londoners sacked Kit Symons following an inconsistent start to the Sky Bet Championship season.
The 47-year-old, who left Israeli club Maccabi Tel Aviv to take up the post, inherits a side in 18th position in the second tier, three points above the relegation zone.
"As I have noted, I'm now extremely proud to announce that Slavisa has accepted our offer to join Fulham and accept the challenge and opportunity that will come in leading our first team," Fulham owner Khan said in a statement ahead of Tuesday night's home game against Rotherham.
"Slavisa is in London Tuesday and will begin to fully acclimatise himself with the club in the days ahead, but be assured that he's already very much attuned to our situation.
"To say that Slavisa came prepared during the interview process would be an understatement.
His analysis of our club was impressive and his ideas were just what we wanted to hear.
"I'm confident that Slavisa will reverse our fortunes and bring to Fulham a winning mindset through the second half of the season and beyond."
He added: "I do want to salute the work by Peter Grant and Stuart Gray in their caretaker roles while we brought this process to a close.
"There was much more to their body of work than may meet your eye.
"While collecting a few points, we were able to take a closer look at various players and line-ups and probably know our club's potential and areas of need a bit better today than we did several months ago.
"I thank Peter and Stuart for keeping us together for the transition ahead.
"Tuesday night, therefore, is an occasion for you to celebrate our past in Jimmy Hill and future in Slavisa Jokanovic.
"For me, it's an opportunity to thank you for your patience and ask for your trust.
I promise that no-one wants to deliver a winner to Fulham supporters more than I do.
That's why we have Slavisa Jokanovic in the fold.
"Brighter days are ahead."
Jokanovic last season led Watford to automatic promotion to the Premier League, only to leave Vicarage Road after talks over a new deal collapsed.
Khan has outlined the role the Serbian will assume at Fulham, who have failed to win any of their seven matches since Symons' exit "I believe the term 'head coach' has been misunderstood, though not by Slavisa nor nearly every one of the other candidates we interviewed," Khan said.
"Slavisa avidly embraces the concept of head coach, which is to be on the pitch, training, organising, planning and everything that comes in preparing for and leading the club on matchday.
"This doesn't mean he will have no say in player selection - he most certainly will, working with chief football officer Mike Rigg and his staff to ensure the best we possibly can that Fulham will field a squad that Slavisa feels he needs to win.
"The concept of head coach simply means being hyperfocused on the pitch and team performance.
But please be assured, Slavisa will collaborate closely with Mike and his staff as anyone would under the classic definition of manager.
"That was always the plan for whomever won the job, and I know that Slavisa and Mike will mesh well as we turn the page on 2015."