Boss David Holdsworth leaves Mansfield Town

Holdsworth has been in charge for less than two years

Mansfield Town manager David Holdsworth has left the Blue Square Bet Premier club by mutual consent after less than two years at Field Mill.

The Stags have won just once in eight league matches and chairman John Radford told BBC Radio Nottingham that "the time was right for a change".

"You have to call it at some point. A manager lives by his results," he said.

"It's something that in the last few nights I have lost a slot of sleep over and it's been a hard decision."

The Stags finished out of the play-off spots last term and, despite a promising start to this campaign, are now in tenth place.

Radford added: "David is a good manager but we needed to make a change. It was a mutual decision and I wish him all the best."

The club statement added: "We believe we have done everything possible to support David during his time at the club. We would like to thank him for his professionalism and hard work."

Assistant boss Duncan Russell will take charge of the team for Saturday's home game against Hayes & Yeading.

Holdsworth was appointed manager in December 2008 and last season he signed an extended contract keeping him at Field Mill until 2013.

And although a summer of upheaval saw chairman Andy Perry resign, the youth team scrapped and severe financial pressures force the club to work to a reduced playing budget, the Stags were in the promotion places after a bright start.

But their recent slump has seen them slip to mid-table and the final straw was last weekend's dismal 2-1 defeat at Forest Green Rovers.

Supporters have become increasingly critical in recent weeks - both with the results and the fact that Holdsworth made more than 60 signings in less than two years in charge.

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The Stags were taken over by Doncaster-based businessman Radford in September.

He pledged to invest £500,000 in the club and is desperate to take them back to the Football League as quickly as possible.

Radford said he is keen to get a new man in place as soon as possible - although he refused to confirm or deny that former Doncaster boss Dave Penney was being lined up.

"I have a few people in mind and a few calls to make," Radford said. "And hopefully over the next three weeks we will get the situation resolved."