"I understand the financial difficulties at the club so this is the best immediate solution as it's cost neutral," he added.
"We have a fantastic staff within the youth structure and everyone will pull together over the next few weeks to cover certain aspects of my job to ensure the continued smooth running of the centre of excellence and scholarship scheme.
"The support we received at Rushden from the fans was overwhelming and in our difficult situation, with an increasingly young team, it is a massive help to our players.
On Ling's departure, he added: "I am deeply disappointed that things didn't work out. I have a great respect for Martin, he's an honest and honourable man and during his time here we worked well together to improve the football infrastructure.
"He was brave enough to give a number of young players their debut and this will continue to benefit the club in years to come."
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