Wolves have confirmed Vita Piero as their new manager, with Portugal boss Conte signing an 18-month contract with the club.
At the age of 56, Pereira has been the most successful manager of Portugal. Having won league titles in Greece and China, he brings a wealth of experience to Molineux.
Pereira, who coached Al Shabab in Saudi Arabia, oversaw his first training session at Wolves' Compton Park facility on Thursday.
He will make his Premier League debut as Wolves manager this weekend when they face Leicester City.
Pereira began his managerial journey with Portuguese club Sanjoanense in 2004 and his resume now includes 13 managerial positions in multiple countries.
He enjoyed great success at Porto, winning back-to-back Primeira Liga titles in 2012 and 2013, with his side losing just one league game in two seasons.
He later achieved a similar feat in Greece, leading Olympiakos to the Super League title in 2015.
Wolves A warm welcome from Vitor 🤝.
— Wolves (@Wolves) December 19 2024
Pereira's coaching career has also seen him win the League Cup in Turkey and Germany in 2018 with Shanghai SIPG.
Wolves chairman Jeff Shea welcomed Pereira to the club and said: “We are delighted to welcome Vitor Pereira to Wolves as the new coach of our national first team.
“Vitor is a highly respected and experienced coach with success in different leagues and will bring a fresh approach to the upcoming test.
“This is a challenging moment for the club and we thank Vitor for taking on this responsibility.
“We are confident in his ability to lead the players and staff back on track and the whole club will be united in supporting him to succeed.”
Athletic director Matt Hobbs echoed the sentiment, saying: “Vitor is an experienced and accomplished coach who has demonstrated his ability to succeed at the highest level.
“His personality, Willingness and leadership qualities have been evident to us during this process. We are excited to see how he will apply his skills at Wolves.
“We look forward to working closely with Vitor and his team on a daily basis, who are helping us in every way possible, from getting the most out of our staff in Compton to recruiting in the upcoming transfer window, as the team and we reach our collective goals.”