Derby County parted company with manager Nigel Clough following their 1-0 defeat to Nottingham Forest on Saturday.
That loss was the Rams’ third in eight days and leaves them in 14th place in the Championship.
A club statement read: "After much consideration, the board feel it is time to move Derby County forward to the next level.
"The search is well under way to identifying and appointing a successor, and further announcements will be made in due course.
"The ownership group remain steadfastly committed to the club and maintain their desire to compete at the top end of the Championship this season."
Clough, who won 14 England caps, was the fourth longest serving manager in English football behind Arsene Wenger, Paul Tisdale and Chris Wilder.
Nigel Clough loses his job at Pride Park following defeat to Nottingham Forest