Manchester United ended Ole Gunnar Solskjaer's three-year reign as manager at Old Trafford on Sunday, but plan to wait until the end of the season to name the Norwegian's permanent successor.
Saturday's 4-1 embarrassment at the hands of struggling Watford was the final straw for the United board, who had stuck by Solskjaer in recent weeks despite humiliating home defeats to Liverpool and Manchester City.
Former midfielder Michael Carrick, who was part of Solskjaer's coaching team, will take charge of the forthcoming games while the club look to appoint an interim manager till the end of the season.
"Ole will always be a legend at Manchester United and it is with regret that we have reached this difficult decision," the club said in a statement.
"While the past few weeks have been disappointing, they should not obscure all the work he has done over the past three years to rebuild the foundations for long-term success."
Solskjaer leaves with United already realistically out of the Premier League title race, 12 points behind leaders Chelsea down in eighth in the table, and having exited the League Cup.
"This club means everything to me and together we're a good match, but unfortunately I couldn't get the results we needed and it's time for me to step aside," said Solskjaer.
"You know what this club means to me and what I wanted to achieve here. For the club, for the fans, for the players, for the staff, I wanted us to take the next step to challenge for the league, to win trophies."
Zinedine Zidane, who won three Champions League titles with Ronaldo and Varane at Real Madrid, Leicester manager Brendan Rodgers and Ajax boss Erik ten Hag have all been tipped to succeed Solskjaer.
But the decision to wait until the summer to make a permanent appointment could open up a wider pool of potential candidates, including Paris Saint-Germain boss Mauricio Pochettino, who has previously been linked with the job.
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