Eddie Howe's long second stint in charge at Bournemouth is over after he left the club by mutual consent.
The decision comes just six days after the Cherries were relegated from the Premier League after five years by a solitary point.
In a statement released by Bournemouth via their official club website on Saturday night, Howe said there was a collective feeling that "now is the right time for the club to go in a new direction" after agreeing his exit during talks with the club hierarchy.
“Having spent a total of 25 years with the club as both a player and a manager this decision - made together with the club - is one of the hardest I’ve ever had to make," he said.
“Bournemouth will always be in my heart, but I firmly believe that now is the right time for the club to have a change.
“I have always ensured that every decision I have ever made as manager has been in the best interests of the club and its supporters, and this is no different.”
Howe's future was subject to speculation following a difficult season that ultimately ended in Bournemouth's relegation back to the Championship, which came despite a final day win at Everton as rivals Aston Villa's draw with West Ham ended any hopes of a last-gasp reprieve.
In total he had spent 25 years with the club as a player and manager, taking them from the depths of the fourth tier to the Premier League in truly remarkable fashion, with that run only interrupted by a near two-year stint in charge at Burnley that ended with his return to Bournemouth in 2012.
Howe - who penned a heartfelt open letter to fans upon his departure from the Vitality Stadium - managed Bournemouth for 450 games across two spells that totalled 11 years.