The PCB decided to move on from Masood after a nearly three-year stint in the role, during which Pakistan suffered some disappointing results.
In his 16 Tests as captain, Masood lost 12, with only Misbah ul-Haq, who captained Pakistan in 56 Tests, having lost more games.
To top it off, they are currently on a historically bad run of form, having lost their last seven Tests in a row, which is the joint-most in Pakistan's history.
Things have not been all doom and gloom, though. Masood's personal performances have been good, and a bit of bad luck cost them dearly in a couple of games.
Pakistan's high-performance director Aaqib Javed explained that the PCB hopes a change in leadership will help them hold on to winning positions more consistently.
"We saw many close Test matches [under Masood's captaincy]," he said. "But a few things were not being addressed.
"Like the Centurion Test, South Africa's two batters for the tenth wicket put on a 60-70 run partnership. [Before that] the game was in our hands.
"Against the West Indies in Multan, in the second Test, the team was rolled over easily.
"Shan's own performance during his tenure has been good, but as captain, he has not been able to bring the desired results. We wanted to look for a captain who comes in and leads the team better.
"The captain has a responsibility of finishing games. Same with the South Africa Tests at home.
"Some things are the responsibility of the team, some are the responsibility of the selectors, and some are the responsibility of the captain.
"The captain's responsibility also includes maintaining the team's over rate, taking DRS decisions, making the right call at the toss."
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Pakistan Cricket Board director of high performance Aaqib Javed has called out batter Imam-ul-Haq, criticising the opener for not going out to bat in the second Test against England at Lord's.
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