Univision Chief Executive Randy Falco is on his way out.

The board of directors at the Spanish-language broadcaster have started a search for a new CEO after growing disenchanted with Falco’s vision for the company, The Post has learned.

Things came crashing down around Falco after a March 1 board meeting where he presented his vision for the company, one source familiar with the situation said.

That vision “was not what the board expected,” one insider said, who noted the meeting was then “cut short.”

It was then decided by some board members, the source said, that the board would look for a new leader.

In a statement late Wednesday, Chairman Haim Saban said Falco, 64, recently “came to us and told us that he would like to retire at the end of 2018 when he will turn 65 years old.”

The board “reluctantly agreed,” Saban said — before praising the CEO’s eight-year tenure atop the company.

The board was jolted by the request by Falco’s request to advance his retirement date, the source noted, as Falco signed a new two-year employment deal just in November. The new deal runs through Jan. 31, 2020, the source said.

When Falco signed the deal, Saban praised the CEO’s guidance of the company, saying he has been “the architect of [Univision’s] evolution since 2011, guiding the company’s tremendous expansion, steadily improving Univision’s financial performance and significantly improving the balance sheet by paying down debt.”

But a broader view of Falco’s leadership may not have been so glowing, sources said.

Univision’s board hasn’t been pleased with the leadership team Falco put in place, sources said.

On March 6, Chief Financial Officer Francisco Lopez-Balboa exited the company, while Univision said it had abandoned its most recent attempt to go public.

Lopez-Balboa, a former Goldman Sachs banker, was hired three years ago to help Univision with its initial public offering.

The IPO was withdrawn, the company said, “due to prevailing market conditions,” leaving its backers without a real exit strategy other than a company sale.

Lopez-Balboa, who was replaced by Peter Lori, was Falco’s fall guy, sources familiar with the situation said.

What’s more, the board wasn’t happy when it learned in December — just days after Falco inked his new employment deal — that Univision would miss by about $200 million, or 15 percent, its 2017 target for earnings before interest, taxes, depreciation and amortization, the source said.

“Despite having renewed his contract in late 2017, the March 1 board meeting was a clear indication for the owners that the current strategy was not the right one and change was needed,” a Univision source said.

“They lost confidence in him and have started a search,” the source said. “Lopez-Balboa was the first casualty of a poorly-led management team headed by Falco.”

Attempts to reach Falco were not successful.