Manager Chris Turner has left Stockport County - who are bottom of the Football League with just two league victories all season - by mutual consent.
Turner spent just over a year in charge at Edgeley Park
His assistant Colin West has also left following a run of five successive league defeats for the Hatters, who lost 6-0 at Macclesfield on Boxing Day.
Former player Jim Gannon, 47, has been named as caretaker manager.
He played for the Hatters for 10 years between 1990 and 2000 and will be in charge against Torquay on Wednesday.
Turner, 47, was appointed on 17 December 2004 but was unable to prevent relegation from League One last season.
However, despite having performed a large clear-out of players, the Hatters have struggled again this term.
Chief executive Kevan Taylor said: "Chris is a first-class guy, he knows his football and he's done his hardest to make this job work.
"Colin West has done exactly the same but sadly, 12 months in, it's just not working.
"Over the past month it's got noticeably more difficult and it was a mutual decision between myself, Chris and the board that sadly we needed to part company and make a start with a new man.
"We would like to place on record our sincere appreciation for everything Chris has done to turn the club around, and we regret he hasn't been lucky enough to turn it around."
TURNER'S MANAGERIAL CAREER
1994-95: Leyton Orient
(joint manager with John Sitton)
1999-2002: Hartlepool Utd
2002-04: Sheffield Wed
2004-05: Stockport County
Turner, who had previously managed Hartlepool and Sheffield Wednesday, won just seven of his 51 games in charge at Edgeley Park.
Stockport are five points adrift of safety at the bottom of League Two.
Their next game is at home to fellow strugglers Torquay, who are second from bottom, on Wednesday evening.