Rob Kelly has been placed in temporary charge of Nottingham Forest while the club's new Kuwaiti owners conduct their search for a manager.
The Al-Hasawi family assumed control of the npower Championship club on Tuesday and wasted little time in implementing their plans for the Reds, sacking Steve Cotterill on Thursday morning.
A statement on the club's official website, nottinghamforest.co.uk, said: "Nottingham Forest have placed assistant manager Rob Kelly in temporary charge of team affairs following the departure of Steve Cotterill."
It added: "The club can also confirm that the pre-season tour of America has been cancelled."
Former Tottenham boss Harry Redknapp emerged as one of the bookies' favourites to fill the vacancy shortly after news of Cotterill's departure broke. However, the 65-year-old, a good friend of Cotterill, has since ruled himself out of the running.
He told the BBC: "I am not interested, but it's an amazing club with great tradition."
A number of other names remain in the frame for the job, including former Birmingham boss Alex McLeish, ex-Wolves manager Mick McCarthy, Peterborough's Darren Ferguson and former Forest player Roy Keane.
The Al-Hasawi family have stated their intent to restore Forest to its former glories, targeting a return to the Premier League. McLeish, McCarthy and Keane all have experience of winning promotion from the Championship, while Ferguson has achieved three promotions in the lower echelons of the Football League during his two spells at London Road.
Cotterill was shown the door just nine months into the three-and-a-half-year deal he signed when replacing former England head coach Steve McClaren in October.
A statement on the club's official website on Thursday morning read: "Mr Cotterill met with the club's new owners, the Al-Hasawi family, [on Wednesday] and after long deliberations they have decided to make a new appointment in a bid to deliver their long-term vision."