The Denver Broncos confirmed on Monday that John Fox's tenure as the NFL team's head coach has come to an end.
After Denver lost to the Indianapolis Colts 24-13 in their American Football Conference (AFC) divisional play-off on Sunday, Fox met with the Broncos' leadership to discuss his future.
In a statement on their website on Monday, Denver revealed they had "agreed on a mutual decision to part ways".
"John Fox and I met for more than an hour on Monday afternoon to discuss the 2014 season and our goals for the future," Broncos general manager John Elway said.
"During our open and candid conversation, it became clear that it was best for both the Denver Broncos and coach Fox to move on and make this change.
"On behalf of the Broncos, I sincerely thank John for his many contributions during his four seasons as head coach. He helped establish a positive, winning culture for this team and deserves a lot of credit for the Broncos' turnaround.
"While we have made significant progress under coach Fox, there is still work to be done. I believe this change at the head coaching position will be in the best interest of our long-term goal, which from day one has been to win world championships."
Fox led the Broncos to four straight AFC West titles since taking charge in 2011 but failed to reach the AFC Championship play-off on three occasions.
Last season, Denver advanced past the AFC Championship play-off before losing the Super Bowl to the Seattle Seahawks.
Fox conceded his disappointment at failing to end the Broncos' 17-year wait for Super Bowl success but insisted he is keen to continue coaching.
"Although we came up short of our ultimate goal, I am proud of our team's many accomplishments during these last four years," the 59-year-old said.
"I truly appreciate all of the hard work put in by every player, coach and staff member within this organization.
"It was an honour to coach the Denver Broncos, a first-class franchise with great fans and a winning tradition. I am thankful to John, [owner] Mr [Pat] Bowlen and Joe Ellis for allowing me and my family to be part of this team and community.
"I am eager to continue my coaching career and look forward to the opportunities that lie ahead."