In a statement, chairman John Radford said: “Whilst I am disappointed by their decision, there are no individuals bigger than Mansfield Town Football Club and the process of appointing a new management team which can lead the club to League One is already underway.
“Mansfield Town Football Club has progressed year-upon-year in recent seasons both on and off the field.
“The club has a fantastic, encouraging and vociferous fanbase; a loyal, patient and supportive board of directors and a dedicated and hard-working team of behind-the-scenes staff.
“With this in mind, along with our current healthy standing in Sky Bet League Two, the vacant post of manager at One Call Stadium is surely one of the most attractive in the English Football League.
“Our ambitions of promotion this season remain as fervent and steadfast as ever and we will leave no stone unturned in our process of appointing the right manager to lead our talented squad of players.”
Academy manager John Dempster will take temporary charge of the squad in preparation for Saturday’s trip to Stevenage. The club will make no further comment at this time.