Paul Tisdale is leaving his position as Exeter manager after 12 years in charge and will be replaced by Matt Taylor, the Sky Bet League Two club have announced.
Tisdale, whose side lost 3-1 to Coventry in the play-off final on Monday, had been the longest serving manager in the English professional game following Arsene Wenger's departure from Arsenal.
Jim Bentley, who has been in charge of Morecambe since 2011, is now the longest-serving boss in the top four divisions.
Paul Tisdale, the longest-serving manager in the Football League, has parted with Exeter City
Exeter said they had been in talks over a 'new significantly-improved contract' for Tisdale since the middle of last year, but he had not met the club's deadline to sign it.
Exeter chairman Julian Tagg, who said he had done all he could to keep Tisdale, told the club website: 'Regretfully, Paul has decided not to sign.
Jim Bentley (Morecambe) 7y 18d
Gareth Ainsworth (Wycombe) 5y 250d
Neal Ardley 5y 234d (AFC Wimbledon)
Eddie Howe 5y 231d (AFC Bournemouth)
Sean Dyche 5y 214d (Burnley)
'We wish him the best of luck for the future and would like to thank him for his commitment to our club over the