The Football Association of Ireland have agreed to terminate the contract of Steve Staunton as national team manager by mutual consent.
The former international defender's future was discussed at an emergency board meeting of the FAI which began on Tuesday night, and they have now acted after a poor series of results which have ended any hopes of qualification for Euro 2008.
The FAI released a statement thanking Staunton and his staff for their efforts since taking the job. Association president David Blood said: "They have brought through many young players and leave behind a squad with strong development potential."
The final straw appeared to be the 1-1 draw with Cyprus at Croke Park last week. Staunton, 39, took charge of the team in January 2006, having had no previous managerial experience. Staunton holds his country's record for most caps, with 102, and was in charge as manager for 17 matches.
Blood added: "As a member of the three-man committee which made the recommendation to appoint Stephen and his team, I am disappointed that things have not worked out the way I, Stephen or my colleagues on the board expected."
With the team in another transitional stage following their failure to reach last year's World Cup finals, it was Staunton's understanding a main feature of his brief was to discover and nurture youngsters for future squads and that his job was safe despite the qualification failure.
He still had more than two years to go on his contract, which would present the hard-up FAI with a huge compensation issue.
The FAI also announced they will appoint an outside adviser to help them head-hunt a successor to Staunton,
An FAI statement said: "The FAI board will now seek to appoint an outside adviser from within the football industry to assist them in the recruitment of a successor. The board will select people with considerable football experience in the professional game to appoint the new manager."
Former Leeds and Aston Villa boss David O'Leary has emerged as the early 7-4 favourite to succeed Staunton with bookmaker William Hill.Finland coach Roy Hodgson is 7-1, while former Liverpool, Rangers and Newcastle boss Graeme Souness is 8-1.
