David Moyes has resigned as manager of Sunderland following the club's relegation from the Premier League.
The Scotsman, who started his managerial career with Preston North End after four years as a player at Deepdale, endured a difficult season with the Black Cats following his appointment last July.
Moyes' side finished bottom of the table after winning just six of their 38 games in a dismal campaign.
The 54-year-old took the decision to stand down following a meeting with chairman Ellis Short and chief executive Martin Bain on Monday.
A statement from Short, published on Sunderland's website, read: "I pursued the services of David Moyes for a considerable period prior to his appointment last summer, which makes the announcement of his departure difficult for everyone concerned.
"Having worked tirelessly throughout the campaign to avoid relegation from the Premier League, David has chosen to leave the club without compensation, which is testament to his character.
"In the days ahead we will take some time for reflection, and then focus on recruitment and pre-season as we prepare for our Championship campaign. We wish David well in the future."
Moyes joined North End as a player in September 1993 and was in the 1995/96 Third Division title-winning side.
He succeeded Gary Peters as manager in January 1998 and guided PNE to the Second Division title in 200.
In March 2002, Moyes left Preston to joint Everton and had an 11-year spell in charge of the Toffees.
He took the Manchester United job but had less than a season in post, then had a stint coaching in Spain with Real Sociedad.
Last summer, Moyes succeeded Sam Allardyce at the Stadium of Light when Allardyce got the England job.
Moyes said: "I would like to thank Ellis Short and the board for giving me the opportunity to manage Sunderland and the fans for always being so passionately supportive of their club.
"I wish the players and my successor well in their efforts towards promotion back to the Premier League."