Paul Lambert has resigned as Wycombe manager just three days after the club's League Two play-off semi-final defeat to Stockport.
Lambert, 38, took over at Adams Park in July 2006 and led the team to the Carling Cup semi-final, losing to Chelsea 5-1 on aggregate having held the Barclays Premier League giants to a 1-1 draw at home in the first leg.
But a dreadful end to the season, which saw them fail to win any of their last 11 games, culminated in a 12th-placed finish.
This season, having been among the play-off positions throughout, the Chairboys ended up facing Stockport in the play-offs, missing out on promotion following a 2-1 aggregate loss.
Lambert had hinted after last week's play-off semi-final defeat to Stockport that he was considering his future at Adams Park and insisted he felt the time was right to move on.
He told the club's official website, www.wycombewanderers.co.uk: "I am bitterly disappointed that we failed to win promotion, but I leave with my head held high.
"I've enjoyed every minute of my time at Wycombe and I'm proud to have taken the club to a Carling Cup semi-final and to the League Two play-offs.
"This is a great club, but I feel the time has come for me to move on. I haven't been forced out - the decision to leave is entirely mine - and I haven't got another job to go to. I just feel that this is the right thing to do.
"I would like to thank the players for their fantastic efforts this season. Whoever takes over will inherit an excellent squad."
Chairman Ivor Beeks added: "We are very sorry to see Paul go. He's done a fantastic job in the short time that he's been here, but he's made up his mind that he needs to move on and we have to respect that."
Managing director Steve Hayes, who confirmed that the search for a new manager will begin immediately, said: "Paul's record speaks for itself. He's one of the most successful managers this club has ever had and he'll be a hard act to follow.
"Obviously this news has taken everyone by surprise, but we intend to move swiftly to appoint Paul's successor. We can't afford to waste any time."
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