Portsmouth have announced that manager Andy Awford has left the club by mutual consent.
Reports had earlier suggested that the South Coast club had sacked the 42-year-old after Saturday's defeat to Morecambe all but ended their hopes of achieving a playoff place in League Two.
However, Pompey have said that Awford has agreed to step down from his role at Fratton Park after 13 months in charge.
"Portsmouth football club announce that Andy Awford has left his role as first team manager by mutual consent," a statement on the club's official website read.
"After a meeting on Monday morning with chairman Iain McInnes and chief executive Mark Catlin, the decision was taken for him to step down with immediate effect.
"The club would like to place on record their sincere thanks for Andy's efforts – his service to Pompey is immeasurable."
Gary Waddock will take caretaker charge of first-team affairs until the end of the season, with Paul Hardyman as his assistant.