Paul Cox has resigned as manager of Torquay United after only three months in charge.
He plans to make a statement about his resignation on Monday.
Assistant manager John Ramshaw and director of football Dean Edwards will take charge of the team for Saturday's National League game against Bromley.
"Paul's his own man and he's made the decision based on his circumstances," Ramshaw told BBC Sport.
"He was very close to the players and a lot of them played for him at previous clubs and I think there was a great deal of disappointment.
"With any change in management at the club, there's trepidation and apprehension from the players, but my job now is to try and calm their fears and get the result tomorrow."
Torquay have not won a match for over a month, despite a promising start to the season when they were victorious in two of their opening three games.
|The ups and downs of Torquay United|
|2004: Promoted to League One||2010: Paul Bristow dies. Wife Thea takes his place on the board.|
|2005: Relegated back to League Two||2011: Lose League Two play-off final to Stevenage|
|2007: Finish bottom of League Two and relegated to the Conference for the first time in the club's history||2012: Finish fifth in League Two, losing to Cheltenham Town in play-off semi-finals|
|2007: New board takes over after relegation, including lottery winner Paul Bristow||2013: Finish 19th in League Two after manager Martin Ling takes time off because of depression. He is later relieved of his duties and replaced by Alan Knill|
|2008: Lose in Conference play-off semi-final to rivals Exeter City||2014: Knill is sacked in January with Torquay bottom of the league, but new boss Chris Hargreaves cannot save the club from relegation|
|2009: Return to Football League after winning Conference play-off final||2015: Torquay finish 13th in the Conference with Thea Bristow leaving the club and a new board taking over with a vastly reduced budget|
And despite Cox, who was not being paid a salary, saying he would bring in extra players over the past few weeks, no new faces have come to the club as Torquay's financial problems continue to bite.
Torquay were taken over by a consortium of local businesspeople in the summer after millionaire owner Thea Bristow left.
They immediately dispensed with Hargreaves and appointed former Mansfield manager Cox as his replacement.
Last week Edwards told BBC Sport that legal claims still outstanding against Torquay "'could finish the club".
"Everyone knows the problems we inherited in terms of finances, but I think we've assembled a good squad of players on very limited resources and our brief was to keep the club in the division," Ramshaw added.
"I'm confident that this group of players is good enough to secure Torquay United's future in the National League."