Hobbs has confirmed the club will look to strengthen the squad as they look to salvage their season and avoid relegation from the Premier League.
Bolstering a defence which has conceded 40 goals in the first 16 matches will be the priority, with Wolves essentially looking to repeat the feat of two years ago when the arrivals of Matheus Cunha, Craig Dawson, Mario Lemina, Pablo Sarabia and Joao Gomes helped rejuvenate the team.
Pereira has signed a one-and-a-half year deal at Molineux and Hobbs said: “Vitor is a highly experienced and accomplished head coach who has demonstrated his ability to succeed at the highest level. His personality, desire and leadership qualities stood out to us during this process, and we’re excited to see how he applies his expertise here at Wolves.
“I’m looking forward to working closely with Vitor and his team on a daily basis, supporting them in every way possible - from getting the maximum out of our staff at Compton, to recruitment in the upcoming transfer window - as we work together to strengthen the squad and achieve our collective goals.”
Wolves turned to Pereira after sacking Gary O’Neil following last weekend’s defeat to Ipswich, with Jorge Mendes playing a big role in the deal to bring the 56-year-old from Al-Shabab in the Saudi Pro League.
Graham Potter and David Moyes are thought to have been among those previously sounded out about the job by the Molineux hierarchy, with both reluctant to take charge of a club struggling at the wrong end of the Premier League table.
Pereira has long made clear his desire to manage in England and came close to taking over at Everton in 2022, only for a fan backlash to prompt the Merseyside club to appoint Frank Lampard instead. Though this is his first job in one of Europe’s top-five leagues, he has won titles with Porto, Olympiacos and Shanghai SIPG.
His career has also included spells in Brazil at Corinthians and Flamengo, where he briefly worked with Gomes before the latter’s move to Molineux in January last year.
Pereira had been in charge of Al-Shabab since February and leaves them sitting sixth in the Saudi Pro League. He had penned a farewell message to the club on social media late on Wednesday night, while Al-Shabab’s chairman Kholaif Al-Hweshan also paid tribute to the departing boss, acknowledging his “dream” of managing in the Premier League had been fulfilled.
Pereira wrote: “The time has come to say goodbye to Al Shabab, every day here has been a lesson. Every challenge, an opportunity to grow. Even though the passage was short, we achieved important goals and milestones, overcame obstacles and created memories that will never fade.
“On behalf of myself and my coaching staff, I sincerely thank the players, the staff, the managers and the fans, who have always supported us unconditionally. I take with me the pride of having been part of this club and the certainty that I gave everything, every day!
“Special thanks to the president for the friendship, respect and gratitude he has always shown us throughout this journey.
“This is not only a farewell, but also a reflection on the importance of each step on our path. Now, it’s time to look to the future, always with gratitude for what the past has given me. Thank you Al Shabab! I WISH the club much success for the rest of the season!”