The Foxes dropped into the bottom three after Saturday’s last-gasp defeat at Crystal Palace, which extended their winless run to six games.
Foxes Chairman Aiyawatt Srivaddhanaprabha said in a statement: “Performances and results during the current season have been below our shared expectations. It had been our belief that continuity and stability would be key to correcting our course, particularly given our previous achievements under Brendan’s management. Regrettably, the desired improvement has not been forthcoming and, with 10 games of the season remaining, the board is compelled to take alternative action to protect our Premier League status. The task ahead of us in our final 10 games is clear. We now need to come together – fans, players and staff – and show the poise, quality and fight to secure our position as a Premier League club.”
Rodgers’ assistant Chris Davies and first-team fitness coach Glen Driscoll have also departed the King Power Stadium.
First-team coaches Adam Sadler and Mike Stowell have been put in immediate caretaker charge, tasked with preparing the side for Tuesday’s crunch clash with Aston Villa.