Port Vale manager Martin Foyle has left the League One club following a poor start to the season.
Vale lie second-bottom having won just once in seven league games, Foyle's last match in charge being a 2-1 defeat by Luton at Kenilworth Road last Saturday.
Port Vale chairman Bill Bratt insists that 'no-one could have worked harder' to bring success to the Potteries club after the departure of Martin Foyle.
Bratt believes that the former Vale striker deserves to be remembered for steering the club through a financial nightmare.
Vale were in administration prior to Foyle's appointment in February 2004 and he made more than £1million in transfer fees during his tenure thanks to the departures of the likes of Trinidad and Tobago international Chris Birchall and striker Akpo Sodje.
In a statement on the club's website, Bratt said: 'Martin has been a great servant to the club as a player, a youth coach and finally as a manager.
'He joined us from Oxford under John Rudge in 1991 and served the club for some 16 years.
'During his time as manager his actions in the transfer market with players who had progressed from his youth squad have helped stabilise the football club since I took over in 2003.
'No-one could have worked longer or harder to bring success to Port Vale.'
Foyle was close to leaving Vale Park last season after frustration over what he felt was a restricted budget but decided to stay after extensive talks with Bratt.
He was rewarded with a higher wage budget for this season but after losing strikers Leon Constantine and Sodje - who scored 42 goals between them last season - to Leeds and Sheffield Wednesday respectively saw his side start the season dismally.
Foyle said: 'I have been in charge for three-and-a-half years and have enjoyed the management role and have learnt so much in such a short space of time.
'The time is now right by going our own ways.
'I would like to thank the supporters who have been great to me over 16 years of continued service.
'I know they have appreciated my loyalty - which is very rare in football today.'
Foyle had been at Vale since he was signed from Oxford for £375,000 in 1991. He became coach before he was appointed manager after Brian Horton left by mutual consent.
Assistant Dean Glover is set to take charge of Saturday's visit of Southend.