Alan Knill has been sacked as manager of npower League One side Scunthorpe and will be replaced by Brian Laws.
Following the weekend defeat against MK Dons - the club's ninth loss in 15 league games this season - the board opted to remove Knill from his post.
The 48-year-old former Iron player won just 16 of his 78 games in charge of the club since he replaced Ian Baraclough in March 2011.
Knill was unable to keep the Iron in the Championship that season before the club struggled the following year in League One, finishing a lowly 18th.
Laws, who will take charge from Tuesday and will be assisted by Russ Wilcox, returns for his second spell at Glanford Park after achieving two promotions in a nine-year stint between 1997 and 2006.
A statement released via the club's official Twitter feed read: "Scunthorpe United Football Club has today relieved Alan Knill of his first-team duties with immediate effect.
"The difficult decision was made inevitable by the recent long run of disappointing performances, particularly at home.
"The club would like to thank Alan for his hard work and wish him well for the future.
"Brian Laws has been appointed manager with effect from tomorrow (Tuesday, October 30) and he will be assisted by Russ Wilcox. (Coaches) Chris Brass and Neil Cutler have agreed to stay on and discuss their future with the new manager.
"The board are delighted that Brian has returned to our club and feel confident that he will be able to restore the confidence to our talented squad of players and look forward to progressing quickly towards a more secure position in the league."