Real Madrid president Florentino Perez has confirmed that Jose Antonio Camacho has resigned from his post as manager.
Camacho tendered his resignation after the defeat to Espanyol on Saturday, and Perez has now accepted it.
The 49-year-old leaves less than four months after taking charge of the capital club for the second time.
In his first spell at the Real helm in 1998, the former Spain coach quit after just 22 days following disagreements with the club's board.
Camacho, a former Real player, left Benfica in the summer to take charge at El Santiago Bernabeu but admitted he was not able to galvanise the club's squad of 'galactico' players.
A heavy UEFA Champions League defeat to Bayer Leverkusen heaped pressure on Camacho, and the subsequent defeat to Espanyol proved the final straw.
Perez announced that assistant coach Mariano Garcia Remon would take temporary charge of first-team affairs while the hunt for a new manager is conducted.
"I want to announce that the board of Real Madrid has decided to accept the resignation of Jose Antonio Camacho, although he will continue working with the club," stated Perez.
"I also want to announce that we have decided to put our confidence in (his assistant) Mariano Garcia Remon, a man of proven loyalty to the club, as the new coach.
"That will ensure there is continuity with the work already carried out by Jose Antonio Camacho, who personally recommended Garcia Remon as his replacement.
"In the name of the board I also want to send everyone a message of reassurance that we are all confident that our objectives for this season remain as before and call on the fans to give their full support to the new coach."
Camacho tendered his resignation after the defeat to Espanyol on Saturday, and Perez has now accepted it.
The 49-year-old leaves less than four months after taking charge of the capital club for the second time.
In his first spell at the Real helm in 1998, the former Spain coach quit after just 22 days following disagreements with the club's board.
Camacho, a former Real player, left Benfica in the summer to take charge at El Santiago Bernabeu but admitted he was not able to galvanise the club's squad of 'galactico' players.
A heavy UEFA Champions League defeat to Bayer Leverkusen heaped pressure on Camacho, and the subsequent defeat to Espanyol proved the final straw.
Perez announced that assistant coach Mariano Garcia Remon would take temporary charge of first-team affairs while the hunt for a new manager is conducted.
"I want to announce that the board of Real Madrid has decided to accept the resignation of Jose Antonio Camacho, although he will continue working with the club," stated Perez.
"I also want to announce that we have decided to put our confidence in (his assistant) Mariano Garcia Remon, a man of proven loyalty to the club, as the new coach.
"That will ensure there is continuity with the work already carried out by Jose Antonio Camacho, who personally recommended Garcia Remon as his replacement.
"In the name of the board I also want to send everyone a message of reassurance that we are all confident that our objectives for this season remain as before and call on the fans to give their full support to the new coach."
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