Watford manager Quique Sanchez Flores will leave the club after their final match of the season on Sunday.
The Spaniard, 51, was appointed in June 2015 following the club’s promotion to the Premier League.
The Hornets are 13th in the Premier League, but have won just two of their past 11 top-flight games.
Sanchez, who also guided Watford to the FA Cup semi-finals this season, will leave after Sunderland visit Vicarage Road on Sunday.
- Reaction to Flores’ departure in Sportsday
“We would like to thank Quique. He and the team achieved the target set at the start of the season of staying in the Premier League for a second year,” said a club statement.
“Quique leaves with all our best wishes for the future and the knowledge he is always welcome at Vicarage Road.”
The Hornets said last month they would only discuss Sanchez’s future at the end of the season.
The club are now looking for their seventh full-time manager since being taken over by the Pozzo family, who also own Italian club Udinese and Spanish side Granada, in June 2012.