Swansea City have parted company with manager Carlos Carvalhal after their relegation from the Premier League.
The Portuguese, 52, who succeeded Paul Clement in December 2017, had joined the Swans until the end of the season, with the option of an extension.
Carvalhal wanted to discuss his future at the club but chairman Huw Jenkins said "it was in the interest of both parties to move in a new direction".
Swansea are now hunting for a fifth permanent manager in two years.
Ostersunds manager Graham Potter is understood to be one of the names under consideration to succeed Carvalhal.
The 42-year-old was in the frame before Carvalhal's appointment, although Swansea are thought to have already identified several other targets and are keen for a swift appointment.
Carvalhal was appointed manager of the Welsh club just four days after being sacked by Sheffield Wednesday but after an initial upturn in results he was unable to stop Swansea's drop into the Championship.
Both parties had held talks about extending his contract before a run of nine games without a win sealed Swansea's top-flight exit after a seven-year stay.
Jenkins added: "We'd like to put on record our thanks to Carlos for his enthusiasm, hard work and commitment since arriving at the club in December.
"Naturally, we are all disappointed with the club's relegation from the Premier League, and following discussions with Carlos, we felt it was in the best interests of both parties that we move in a new direction.
"We will now be looking to appoint a new manager in readiness for the 2018-19 season."
The club also confirmed first-team coaches Joao Mario and Bruno Lage have left the Liberty Stadium, along with match analysts Jhony Conceicao and Paulo Sampaio.
Swansea will need to rebuild on and off the field next season, with the team no longer playing with the distinctive passing style once known as the 'Swansea Way' and fan unrest representing the wider discord at the club.
To add to their problems, long-term Swans Angel Rangel and Ki Sung-yueng both left following relegation, whilst first-choice goalkeeper Lukasz Fabianski has told the club he wishes to leave in the summer.
Swansea City icon Leon Britton will also be unavailable next season after announcing his retirement.
Supporters protested before Sunday's defeat against Stoke, calling for the removal of Jenkins, a sentiment echoed by pundits Ian Walsh and Iwan Roberts.
Steve Kaplan and Jason Levien led an American consortium in taking over the club in 2016 and have also been the subject of criticism from fans.
A statement on the club website from Kaplan and Levien said the pair "shoulder much of the responsibility" for the club's relegation.
It added: "Our recruitment strategy hasn't been good enough, we all recognise that and the blame for it ultimately rests with ourselves."
Carvalhal reflected on his time at the Liberty Stadium.
"It has been a big pleasure to manage Swansea City, and I am grateful for the way not only the club but the city welcomed me," said Carvalhal.
"From the players to the chefs, the physios and staff, I really enjoyed working with you all.
"I must thank the chairman and majority for their full support.
"I must also thank the fans. They were absolutely fantastic during my time here, and they follow the team up and down the country with huge passion.
"While Swansea and myself will go in a different direction, I wish the club all the best.
"I am sure I will be a Jack forever."