League Two strugglers Mansfield have parted company with manager Billy Dearden following Saturday's 4-0 defeat to Rochdale at Field Mill.

The loss left the Stags second bottom and two points adrift of safety in the relegation zone, with two games in hand on Macclesfield in 22nd spot.

Dearden, who was in his second spell in charge of the club, has been at the helm since December 2006.

Chief executive Stephen Booth said: "After today's game, Bill and I have had a full and frank discussion.

"We have agreed that it is in the best interests of Mansfield Town Football Club and Bill that we part company. With immediate effect, Bill is no longer the manager of Mansfield Town.

"We will make an announcement within the next 48 hours as to how we move forward.

"We would like to wish Bill all the very best for the future."