Steve Cotterill was sacked just 48 hours after new Kuwait owners, the Al-Hasawi family, took charge of the Championship club, much to the disappointment of the 47 year old.
In a statement via the League Managers' Association, Cotterill said: "I am deeply disappointed that I will no longer have the opportunity to manage Nottingham Forest Football Club and lead the team into this new era."
He added: "I thoroughly enjoyed my time in charge at the City Ground. Last season, after taking charge in difficult circumstances, I was proud to guide Forest clear of relegation and ultimately bring back some stability to the club.
"I fully appreciate that in football a change of ownership can unfortunately lead to a change of manager. Despite this, I believed the team's performances last season were good enough for me to be given a chance with the new regime and continue to build again for the new season.
"Nevertheless, I wish the club every success for the future. I would also like to thank my staff, players and the supporters. I enjoyed a fantastic relationship with every one of them during my time in charge.
"The matter of my dismissal is now in the hands of the LMA and I will therefore be making no further comment at this stage."