Celtic have confirmed that manager Tony Mowbray and his assistants have left Celtic following the 4-0 defeat at St Mirren.
Wednesday night's defeat left Celtic ten points behind Rangers in the table and there had been significant doubts about his future in the aftermath.
Reacting to his departure, Mowbray said: "Naturally, I am very disappointed to be leaving Glasgow Celtic. I am very proud to have not only managed but also played for a club with such great tradition and that has tremendous roots in football history.
"I would like to offer my sincere thanks to all of the players and also to my staff who supported me so well. Finally, I would like to wish the club every success in the future."
Club chairman John Reid said: "On behalf of the board and everyone at Celtic Football Club, I would like to offer Tony Mowbray my thanks and sincere best wishes for the future. Tony is held in great affection by Celtic fans and it is obviously with great disappointment that we make today's statement. During his period here, Tony has always acted with great dignity as he has done today. We are all Celtic supporters, faithful through and through, Tony included. We are all disappointed at the way things have gone this season."
Mowbray had met chief executive Peter Lawwell at the Hoops' Lennoxtown training ground on Thursday before the decision was made. A number of fans had arrived to jeer Mowbray as he arrived at work following the St Mirren defeat.
Assistant manager Mark Venus and first-team coach Peter Grant have left the club, while Neil Lennon has accepted the job of caretaker manager until the end of the season.
Mowbray shown the door by Celtic.
Despite results, Mowbray repeatedly refused to deviate from his passing principles but admitted that the first admission that his football philosophy was perhaps not suited to the Scottish game.
But he also could not resist a dig at Rangers in the process, telling BBC Scotland: "Rangers have been very consistent - they haven't lost four goals in any game. They set up differently - maybe that's the way to go.
"Maybe it isn't a league for trying to force the game and be expansive - maybe it is a league for playing defensive, negative football and having quality up front to counter-attack."