A compensation package has been agreed between the two parties, but McCall has refused to claim the whole amount he is due in order to help the club's finances. Last summer he took a pay-cut to help out the club.
He said: "I'm hurting because it was a dream of mine to come back here and bring success. But that hasn't happened and it's not what I wanted. But least in a way I'm going away with pride and dignity intact.
"The support I have received from the fans has been unbelievable and I want to thank them for everything. I couldn't ask any more from them and they couldn't have given me anymore, but unfortunately I haven't been able to give them the results they deserved."
Assistant manager Wayne Jacobs took training on Monday but joint-chairman Mark Lawn has not confirmed if he will be in charge for Saturday's visit of League Two strugglers Grimsby Town.
The West Yorkshire club will now employ a short-term manager until the end of this season, while still talking to other candidates, and will make a permanent appointment in the summer.
Lawn explained: "We are going to appoint a manager until the end of the season and will start those interviews this week and this may take a week or so because we want to get it right.
"That caretaker role will go until the end of the season and will obviously put that person in the driving seat. But we don't want to be limited to just that, so we will tell that person we will continue to be interviewing people through the rest of the season to see who is available in the summer.
"I think we need someone who knows this league and has been there and done it. We need someone who is a strong character, who can mould these young player.
"Someone that will bring the best of these players because we do have a quality squad.
"It's a very sad day to see Stuart go because he is a legend at the this club. it's been a very difficult time for everyone involved. I would personal like to thank Stuart and wish him every success in the future."
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