Peterhead manager Steve Paterson has left the club, having been with the Blue Toon since October 2006.
Paterson was previously at Aberdeen and Inverness
The club have lost their last two Second Division games, 2-0 at Airdrie United and 5-1 at Ross County.
A statement said: "Peterhead have cancelled the contract of manager Steve Paterson with immediate effect.
"Assistant Neale Cooper will take charge of all football matters until the end of the season. Peterhead FC wish Steve Paterson all the best."
Paterson was previously in charge at Inverness Caledonian Thistle and Aberdeen.
Cooper will now take on the challenge of improving the fortunes of the fifth-placed side.
He began his managerial career with Second Division rivals Ross County, spending six years in charge of the Dingwall club, and he led them from Division Three to Division One with successive promotions in 1999 and 2000.
Cooper has also had spells as manager at both Hartlepool United and Gillingham.