Foxes axe Shakespeare following failure to build on early promise
Leicester City's owners said a change "was necessary to keep the club moving forward" after confirming that manager Craig Shakespeare had been relieved of his duties.
The 53-year-old replaced Claudio Ranieri on a caretaker basis in February but was given the job on a permanent deal after keeping the 2015-16 champions in the Premier League and guiding the club to the quarter-finals of the Champions League.
However, Leicester have won only one league match this season and sit in the bottom three of the table after Monday night's 1-1 home draw with West Brom extended their winless run to six Premier League games - the same as when Ranieri was sacked earlier this year.
Vice chairman Aiyawatt Srivaddhanaprabha said in a statement: "Craig has been a great servant to Leicester City - during his spells as an assistant manager and since taking over as manager in challenging circumstances in February.
"His dedication to the club his work has been absolute and the contribution he made to the most successful period in Leicester City history is considerable.
"However, our early promise under Craig's management has not been consistently evident in the months since and the board feels that, regrettably, a change is necessary to keep the club moving forward - consistent with the long-term expectations of our supporters, board and owners.
"Craig is and will remain a very popular, respected figure at Leicester City," he added.