Michael Appleton will be in charge of the First Team as Caretaker Manager for Saturday’s Premier League trip to Swansea City, supported by First Team Coaches Mike Stowell and Adam Sadler.

Leicester City Vice Chairman Aiyawatt Srivaddhanaprabha said: “Craig has been a great servant to Leicester City – during his spells as an Assistant Manager and since taking over as Manager in challenging circumstances in February. His dedication to the Club and to his work has been absolute and the contribution he made to the most successful period in Leicester City history is considerable.

“However, our early promise under Craig’s management has not been consistently evident in the months since and the Board feels that, regrettably, a change is necessary to keep the Club moving forward – consistent with the long-term expectations of our supporters, Board and owners.

“Craig is and will remain a very popular, respected figure at Leicester City and will be welcome back at King Power Stadium in future, both professionally and as a friend of the Club.”

The Club will now begin the process of identifying and appointing its next First Team Manager and will make no further comment on the process until the appropriate time.