Blackburn have announced they have sacked manager Sam Allardyce.
Allardyce, 56, was relieved of his duties along with his assistant Neil McDonald by the club's new owners, the Venky's Group from India.
Blackburn have lost three out of their last five games, including a 2-1 defeat by his former club Bolton on Sunday.
"I am very shocked and disappointed to be leaving Blackburn," said Allardyce in a statement released through the League Managers' Association.
"I am extremely proud to have managed this club and I enjoyed a fantastic relationship with the players, my staff and the supporters during my time in charge.
"I now wish them and the football club every success for the future."
Rovers are currently 13th in the Premier League, five points above the relegation zone.
The club announced that current first-team coach Steve Kean will take temporary charge of the club.
Former Bolton and Newcastle boss Allardyce joined Blackburn in December 2008 and guided the Lancashire club to a respectable 10th place in the Premier League last season.
The club made a steady start to the current campaign, taking 18 points from 14 games to leave them 11th in the Premier League at the end of November.
But a run of poor form, including a thumping 7-1 defeat by Manchester United, has seen them slide closer to the relegation zone.
Former Blackburn midfielder Robbie Savage said he was "shocked" to learn of Allardyce's sacking.
"I know the chairman John Williams well but it's obviously the owners who have made this decision," the former Wales international told BBC Radio 5 live.
"Big Sam has a big ego and maybe they clashed.
"He was doing a good job, what do people expect? He will be very disappointed."
The Rao family completed their £43m takeover of Rovers through their newly formed company, Venky's London Limited, on 19 October.
And Venky's chairwoman Anuradha Desai had told the BBC last month that the group had "promised manager Allardyce funds to spend in the January transfer window".
But in a statement on Monday, the club said: "We have taken this decision as part of our wider plans and ambitions for the club.
"We would like to put on record our thanks to Mr Allardyce for his contribution to Blackburn Rovers Football Club."
BBC Sport - Football - Blackburn Rovers sack manager Sam Allardyce
Allardyce, 56, was relieved of his duties along with his assistant Neil McDonald by the club's new owners, the Venky's Group from India.
Blackburn have lost three out of their last five games, including a 2-1 defeat by his former club Bolton on Sunday.
"I am very shocked and disappointed to be leaving Blackburn," said Allardyce in a statement released through the League Managers' Association.
"I am extremely proud to have managed this club and I enjoyed a fantastic relationship with the players, my staff and the supporters during my time in charge.
"I now wish them and the football club every success for the future."
Rovers are currently 13th in the Premier League, five points above the relegation zone.
The club announced that current first-team coach Steve Kean will take temporary charge of the club.
Former Bolton and Newcastle boss Allardyce joined Blackburn in December 2008 and guided the Lancashire club to a respectable 10th place in the Premier League last season.
The club made a steady start to the current campaign, taking 18 points from 14 games to leave them 11th in the Premier League at the end of November.
But a run of poor form, including a thumping 7-1 defeat by Manchester United, has seen them slide closer to the relegation zone.
Former Blackburn midfielder Robbie Savage said he was "shocked" to learn of Allardyce's sacking.
"I know the chairman John Williams well but it's obviously the owners who have made this decision," the former Wales international told BBC Radio 5 live.
"Big Sam has a big ego and maybe they clashed.
"He was doing a good job, what do people expect? He will be very disappointed."
The Rao family completed their £43m takeover of Rovers through their newly formed company, Venky's London Limited, on 19 October.
And Venky's chairwoman Anuradha Desai had told the BBC last month that the group had "promised manager Allardyce funds to spend in the January transfer window".
But in a statement on Monday, the club said: "We have taken this decision as part of our wider plans and ambitions for the club.
"We would like to put on record our thanks to Mr Allardyce for his contribution to Blackburn Rovers Football Club."
BBC Sport - Football - Blackburn Rovers sack manager Sam Allardyce
