The club said “While football is a game of fine margins, and Stuart undoubtedly faced numerous challenges over the course of the campaign.
Neither results nor performances reached the levels we believe the team was capable of - particularly during the defining period towards the end.
"Alongside our recently appointed head of football, Roberto Gagliardi, our work is well under way to identify the correct coaching team and new signings to join us on these important next steps of our journey.
"We are highly optimistic about the club's future and remain as committed as ever to helping Notts County achieve its immense potential."