Billy Dodds has been sacked as Caley Thistle manager following a nine-game winless run.
The former Scotland international had signed a new two-year deal with the club in June, only days after the club were beaten 3-1 by Celtic in the Scottish Cup final.
Caley Jags lost 1-0 against Raith Rovers on Saturday following a late strike by Jamie Gullan but Dodds praised his players after the game for a much-improved display.
The result left Inverness sitting bottom of the Championship with only one point from their opening five games.
Dodds went close to guiding Inverness back to the top flight, losing to St Johnstone in the Premiership play-off final last year. They drew 2-2 in the first leg in Inverness before losing 4-0 in the second leg with all four goals at McDiarmid Park coming in the second half.
Barry Wilson, Caley Thistle’s assistant manager, has also left the club.
The club’s sporting director John Robertson and the academy director Charlie Christie have been placed in interim charge with Caley Thistle’s next match at home against Dundee United on Saturday.
The Caley Thistle statement read: “It is with much regret that the club has taken the decision to terminate the contracts of head coach Billy Dodds and his assistant manager Barry Wilson with immediate effect.
“In the first instance we would like to put on record our huge appreciation for the efforts of Billy since taking the position. His professionalism, attention to detail and positive attitude could never be faulted no matter the challenges we faced.
“The run to the Premiership play-off final in his first season was an epic effort which saw us only fall short in the final 45 minutes of the final and it goes without saying that reaching the Scottish Cup final for the second time in our 29-year history was a fantastic achievement, as was the performance of the team that day against the Scottish champions.
“It is important to note that this is not a decision which has been taken lightly and as our history shows, it is rarely the way managerial changes happen at Caledonian Stadium.
“We do not have a revolving door, nor a hire and fire at the drop of the hat attitude and we do not expect that to change going forward.”
It is with much regret that the club has taken the decision to terminate the contracts of Head Coach Billy Dodds and his Assistant Manager Barry Wilson with immediate effect.
— Inverness Caledonian Thistle FC (@ICTFC) September 17, 2023
‘A results-driven business’
Former Aberdeen, Rangers and Dundee United striker Dodds joined Caley Thistle as assistant to interim manager Neil McCann during the 2020-21 season while John Robertson was on compassionate leave.
In June 2021, Dodds was confirmed as the club’s new permanent manager with Robertson taking on a sporting director role.
It was Dodds’ first role as a manager having previously worked as an assistant manager at Ross County, Dundee and Queen of the South.
The statement continued: “The CEO and full board of directors had been meeting regularly with Billy regarding performances, results, and our expectations and ambitions for this season.
“We were all determined to give ourselves the best possible chance to succeed.
“Our intention is always to be competing for promotion but as is repeated regularly in such circumstances we are in a results-driven business and sadly, this season’s results have not reflected the quality we believe we have in the building.
“Assistant manager Barry Wilson is a club legend and he has more than ably served the club as player and coach.
“His many years here as both, and the respect with which he has been held, shows our appreciation of his service.
“Sometimes in football we have to make difficult decisions and both of the decisions outlined above fall very hard into that category.
“Sporting director John Robertson and academy director Charlie Christie will take charge of the team in the interim period while we endeavour to find a new head coach in short order and applications will be accepted at firstname.lastname@example.org
“We have great plans for the club as we move towards our 30th year and indeed a bright future.
“More importantly we have a very good squad of players, many of whom were brought in over the last two years and they now have to step up and prove they are worthy of the plaudits they have all previously received to help both the interim football department staff and the new head coach, once appointed.”