Jos Luhukay has left Sheffield Wednesday by mutual consent with immediate effect less than 12 months after being named manager at Hillsborough.
The 55-year-old Dutchman leaves with the Owls 18th in the Championship table, six points above the relegation zone.
Chairman Dejphon Chansiri said: "I would like to place on record my thanks to Jos for the efforts he has given to Sheffield Wednesday.
"But now is the right time for both parties to move on and I wish him all the very best for the future."
Coach Lee Bullen will take caretaker charge of the team until a new permanent manager is appointed.
Wednesday have won just one of their last 10 games and are 2001.00 to be relegated this season while Rotherham United are 1.72 to go down.
Luhukay has managed several Bundesliga sides during his career including Hertha Berlin, VFB Stuttgart and Borussia Monchengladbach.
He worked under Jupp Heynckes at Monchengladbach and was in charge of Stuttgart until September 2016 before taking charge of Wednesday, who lost 2-1 at Swansea City last weekend.
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