"The board still took the view that George Burley was the right man to lead us back to the Premiership, but this season, even though retaining a Premiership squad, performances have not improved.
"Given our single minded ambition to gain promotion this season the Directors have decided that it is time to draw a line under a frustrating twelve months. As custodians of Ipswich Town Football Club the board have acted now in order to give new management the best possible chance of achieving our goal.
"We have given Tony Mowbray the responsibility of managing first team affairs in a caretaker role. The board will interview candidates for manager in the coming days and weeks amongst whom Tony Mowbray will be considered.
"Looking forward, there is a long way to go with 36 matches to play starting with an important match against Sheffield Wednesday at home on Saturday. Our supporters have again been superb this season and I ask everyone to rally around Tony Mowbray and the players and give them all the encouragement they need."