Darrell Clarke has made his role after four and a half years accountable as manager of Bristol Rovers.
Rovers are 21st at League One, four and have lost seven of the last 10 matches in all contests points out of safety.
Having over seen their relegation from the EFL at 2014, Clarke guided Rovers to League One to promotions.
However, after Saturday’s loss to Doncaster that the 40-year-old told BBC Radio Bristol he was”under-achieving as a manager” and that they were”going backward”.
“After much soul searching and protracted deliberations it has been agreed it is probably in the best interests of the team and of Darrell Clarke to find out a fresh way forwards,” said a Bristol Rovers announcement.
“Darrell will stay a close friend of the team and can no doubt achieve further success in his career after a deserved break”
The Pirates have yet to announce who will take over the running of their initial team before Clarke’s successor has been appointed.
Having played Mansfield and Hartlepool, Clarke joined Rovers as supervisor to John Ward at June 2013 after a stint in charge of non-league Salisbury City.
Back in March 2014 he substituted Ward as manager, but could not stop the club by falling out of their EFL for the first time in 94 years since they lost 1-0 to Mansfield on the last afternoon of the summer season, despite only having a draw to live.
They returned League Two at the first effort, before you go on to be at Grimsby on penalties at the promotion final at Wembley finishing a point behind Convention winners Barnet.
Another season followed as Rovers be at Dagenham & Redbridge 2-1 on the last afternoon of the effort to secure place at League 2 on promotions and goal difference.
While last season they were 13th, Within their first season under Clarke at the next tier they finished 10th, six things away from the play-offs.
This period Rovers have won just a few of these 21 league fixtures and were knocked out of the FA Cup at the first round by National League side Barnet at the Memorial Stadium a month.
Richard Hoskin, Sports Editor BBC Radio Bristol
Darrell Clarke has been also and has been the fourth longest-serving manager from the EFL one of the most popular directors in Bristol Rovers’ recent history.
This year he’s cut out a frustrated figure. After Saturday’s 4-0 home defeat against Doncaster, he said that the team was moving”backward”, warning of cuts. Clarke said he did not think training ground or a new stadium could be assembled while he was in charge.
By his own admission, mistakes are made.
Now eyes turn together with questions remaining about the management of this football team, to the owners. Bristol Rovers are also four points out of safety in front of a visit.