Derby County have parted company with manager Billy Davies.

Club chairman Adam Pearson held a meeting with the Scot this morning and then revealed in a statement they had "mutually" decided to "go our separate ways".

Davies leaves County bottom of the Barclays Premier League with just one win from their opening 14 games after they gained promotion from the Coca-Cola Championships via the play-offs last season.

Despite Pearson reassuring Davies over his position following his takeover of the club at the end of last month, it appears the Rams' persistently poor form and the ex-Preston boss' barbed comments at the weekend sealed his fate.

"I have met with Billy Davies this morning and we have decided mutually, in the interests of both parties, that to go our separate ways is the best decision at this time," Pearson said in a statement released on dcfc.co.uk.

"Billy Davies leaves Derby County with our best wishes and our genuine gratitude in achieving a magnificent promotion to the Premier League, where everyone connected with the club wanted to be.

"We wish Billy all the best for his future career and both parties will now move forward, which I am sure will lead to future success for Billy Davies and Derby County."