Rock-bottom Derby County have axed manager Billy Davies in the wake of Saturday's 2-0 home defeat to Chelsea.
The Pride Park loss left the Rams rooted to the foot of the Premier League table with only six points from their 14 games.
County have already lost ten matches this season, scored only five goals and conceded 33.
A statement on the club's official website from chairman Adam Pearson read: "I have met with Billy Davies this morning and we have decided mutually in the best interests of both parties that to go our separate ways is the correct decision at this time.
"Billy Davies leaves Derby County with our best wishes and our genuine gratitude in achieving a magnificent promotion to the Premier League, where everyone connected with the club wanted to be.
"We wish Billy all the best for his future career and both parties will now move forward, which I am sure will lead to future success for Billy Davies and Derby County."
Davies joined County from Preston North End in June 2006 and guided the club to a surprise promotion via the Championship play-offs last term.
However, the Scot was desperate to strengthen his squad and upset Pearson with his post-match comments on Saturday, when he said: "Anybody questioning the players' attitude, commitment and effort, should look again because I can't ask any more from these guys.
"That's not the problem. The problem we have is that we have to invest in the playing staff of this club.
"Hopefully I can see the chairman - who I've not seen in the last three weeks - and hopefully if there is any investment then it goes towards the playing staff.
"I feel sorry for the fans because they are paying their money, getting behind the club and the players, but they want to see quality on the pitch and that is something we must see now."
A report in a Sunday newspaper claimed a clause in his contract would see Davies pick up a £750,000 pay-off should Derby sack him, while another paper said Paul Jewell was being lined up to replace him.