Bolton have sacked manager Owen Coyle following a poor start to the season.
A statement on the club's Twitter page confirmed Coyle has been "relieved of his duties" 34 months after succeeding Gary Megson.
The Scot oversaw relegation from the Premier League in May, and this term's attempt to win an immediate return has begun badly.
Saturday's defeat at Millwall was a fourth away from home, and there have been just three victories in 10 games.
Chairman Phil Gartside said: "It is the right time for a change. We set a target at the beginning of the season and want to get back on track.
"Owen poured his heart and soul into the job, and he led our club with great dignity during some very challenging times. I would like to place on record our sincere thanks to Owen, Sandy Stewart and Steve Davis."
Coyle said: "I have always been driven to act in the best interests of the club and care passionately about it. I had fantastic times here as a player and it has been a privilege to have held the post of manager."
Academy manager Jimmy Phillips and head of academy coaching Sammy Lee have been put in temporary charge.
Mick McCarthy is the early favourite for the Bolton manager's job with Sky Bet following Coyle's sacking and was quickly cut into 7/4.
There was also early money for Peter Reid at 25/1.
Graeme Souness, initially offered at 5s, drifted to 14/1, with Roy Keane taking over as second favourite at 10/1.
Ole Gunnar Solskjaer, recently linked with the vacancy at Bolton's local rivals Blackburn, was cut from 16s to join a host of candidates on 12/1.
Other interesting names on the list include former Blackburn boss Steve Kean (25/1), Kenny Dalglish (25/1) and former Trotters defender Fernando Hierro at 22s.
Who should be Bolton's new manager?