Peter Reid has been sacked as Plymouth manager after the stricken club's miserable start to the new League Two season.
The financially-crippled Pilgrims, who remain in administration and are hoping a new buyer can be found, have picked up just one point from nine outings this season.
Reid took the helm at Home Park last year, but the club were plunged into administration soon after, docked 10 points as a result and ultimately relegated from League One.
Acting chairman Peter Ridsdale was keen to salute the efforts of the former Manchester City, Sunderland, Leeds and Coventry boss, but felt that a change of direction was the only solution given their dismal results this season.
"Peter joined Argyle as manager at the beginning of the 2010-11 season and inherited an unsustainable wage bill and a club that with the benefit of hindsight was in financial meltdown," a statement from Ridsdale on the club's official website read.
"During the last 15 months Peter has been the ultimate professional and has gone about his duties without complaining and has had to cope with more in a short period of time than most managers have to put up with in a whole career.
"Ultimately however, whatever the challenges, football is a results business and, today, Argyle sit bottom of the Football League with only one point out of 27.
"It is crucial that we give ourselves time to attempt to preserve Football League status and therefore it is felt that a change of manager now is the only option.
"Peter leaves with our unreserved thanks for his contribution in helping keep the club alive during this turbulent period and he leaves with our very best wishes for the future."
The club are yet to appoint a caretaker to lead the squad, but plan to make a further announcement on an interim appointment in the next 24 hours.