Alan Pardew has tonight left his role as Charlton manager by mutual consent.
The board at The Valley finally lost patience with the 47-year-old following this afternoon's 5-2 defeat at home to Sheffield United.
The result saw Charlton slip into the Coca-Cola Championship relegation zone on the back of a run of eight games without a win.
Pardew said: "My record coming to this club has been good, but it's been difficult here. When I arrived they were on the slide and I haven't been able to stop that.
"We're in a sticky situation and I have to accept whatever decision is made.''
In a statement on the club's official website, www.cafc.co.uk, Charlton chairman Richard Murray said: "On reflection of results so far this season, and looking at the future challenges for the remainder of the campaign, it was agreed by both parties that Alan would leave the club with immediate effect.''
Pardew, who took previous club West Ham into the Barclays Premier League and to the 2006 FA Cup final, arrived at The Valley on Christmas Eve of the same year following the brief reigns of Iain Dowie and Les Reed.
The former Addicks midfielder narrowly failed to keep them in the top flight, but hopes were high of an immediate return despite the loss of key striker Darren Bent to Tottenham.
However, a promotion push failed to materialise and Charlton eventually finished in a lowly 11th.
This season has seen the club lurch from one setback to another, with a proposed multi-million pound takeover from Dubai falling through while the team continued to struggle.
Charlton have won just six of their last 29 Championship matches and are currently four points off the foot of the table.
Assistant boss Phil Parkinson, the former Colchester and Hull manager, has been placed in temporary charge for Tuesday night's trip to QPR.
Alan Curbishley, who quit The Valley after 15 years in charge at the end of the 2005/06 season, will be an early contender for the vacant role.