Institute start the search for a new manager after Kevin Deery decided to step down.
Deery, who meet 'Stute chairman Bill Anderson on Wednesday night, resigned on Friday evening.
Anderson meet players this morning to inform them of Deery's departure.
It's thought the club would like to act swiftly on Deery's replacement with assistant manager Paddy McLaughlin the early favourite.
Deery's two seasons with the Drumahoe club saw them narrowly miss out on promotion to the Danske Bank Premiership twice, losing to Ballinamallard and Carrick Rangers in a playoff, however in his first season in charge they did win the Intermediate Cup beating Ards in the final, at Windsor Park.
Chairman Anderson was grateful for Deery's work over the last few seasons.
"The club would like to register their thanks to Kevin for all his hard work and commitment over the last two seasons," admitted Anderson.
"Two great campaigns, two promotion playoffs and a lot of optimism about the future are Kevin's legacy. For that we are eternally grateful and we wish him every success in the future.
"Discussions are ongoing with regard to the appointment of a new manager and details will be released as soon as those negotiations have been completed."