Italian Claudio Ranieri has stood down as coach of French Ligue 1 club Monaco, club vice-president Vadim Vasilyev said on Tuesday.
The 62-year-old former Chelsea coach took charge at the Stade Louis II in May 2012, leading them to promotion back to the top flight last season, and had a year left to run on his contract.
Principality side Monaco finished runners-up to Paris Saint-Germain in Ligue 1 this season, qualifying them for the Champions League.
Vasilyev told a press conference: "I can confirm the departure of Claudio Ranieri. We have taken the decision to part ways.
"I would like to acknowledge the very good job that Ranieri has done."
Ranieri also previously coached Serie A clubs Inter Milan, Napoli, Fiorentina, Juventus, Roma and Parma and Spanish outfits Atletico Madrid and Valencia.