TRONDHEIM, Norway, Oct 25 (Reuters) - Knut Toerum was released from his contract as Rosenborg Trondheim's coach on Thursday, the day after the Norwegian club's 2-0 win over Valencia in the Champions League.The decision came after a meeting between the board and Toerum, the club said on their Web site. With their home win over Valencia on Wednesday, Rosenborg climbed to second in Group B with four points from three games, three points behind leaders Chelsea. However, club chairman Terje Svendsen said both parties had agreed that this season's results had not been good enough for Rosenborg, who are only sixth in the Norwegian first division, already won by Brann Bergen. Rosenborg, Norway's dominant football force, won their 20th Norwegian league title last season. From 1992 to 2004, they won the title 13 times in a row. 'We naturally do not place all the guilt for this season's bad results on the coach. Last season Knut Toerum came as a rescuer and did a tremendous and fantastic job for which he will always be remembered,' Svendsen was quoted as saying. 'But lately we have got into conversations about the future of the club and as a result of that we have decided to release our head coach from his contract.' Assistant coach Trond Henriksen will replace Toerum as head coach for the rest of the season, with former player and youth team coach Kare Ingebrigtsen as his assistant. Toerum said: 'Rosenborg has always been about team work, and it would have been wrong to keep on holding on to the position as head coach. 'As I leave, I can think back on a lot of positive experiences with Rosenborg.'