Wilkinson and Cotterill have been sacked after just two wins from their 20 games in charge which leaves The Black Cats currently seven points adrift at the bottom of the Premiership with just nine games to go until the end of the season.
The club will announce a successor to Wilkinson before the crucial Premiership gameagainst Bolton on Saturday at the Stadium of Light.
A statement from Chairman Bob Murray said: βThe Club and its supporters have faced disappointment over a drawn out period. This has been very difficult for everyone concerned but we are absolutely determined to arrest the decline and revive the club. We will be appointing a successor before our crucial game against Bolton at the weekend.
β The fans have been incredibly tolerant and supportive in the circumstances and I would like to thank them for that. We understand how people are feeling and regret this. We all want to see the team get back to winning ways and putting in the type of performances that will give the fans something to cheer about.β