Brown Ferguson has "parted company" with Stenhousemuir, the club have announced.
The manager leaves with Stenny second bottom of Scottish League One, a point above Dumbarton and a point below Airdrieonians and Brechin City.
Ferguson, 37, moved into management at Ochilview in 2015 after finishing his playing career there the year before.
He guided the team to safety and though Stenny were relegated in 2016, they returned to the third tier last year.
"We believe that now is a sensible time to make a change in the management of the team," said Stenhousemuir chairman Iain McMenemy. "With some new direction, we believe we have a strong talented squad that can go on to reach its full potential over the remainder of the season.
"We would like to place on record our thanks to Brown for his commitment to the club. We have parted company on good terms and wish him all the best for future success."