Tranmere have sacked manager John Barnes and assistant boss Jason McAteer after a run of just two league wins from 11 matches.
The club are 22nd in League One and were knocked out of the Johnstone’s Paint Trophy on Tuesday.
“Unfortunately results have not gone our way this season and we are at the wrong end of the table,” chairman Peter Johnson told the club website.
“We must now focus on finding the best possible candidate.”
Physio Les Parry has been placed in temporary charge and will be assisted by reserve boss Shaun Garnett.
Johnson added: “I urge all supporters to get behind Les, Shaun and the team on Monday when we play at home to Stockport County.”
Parry says he was sad to see Barnes leave the club and had nothing but praise for the for the Liverpool legend.
“It was obviously sad this morning to see the gaffer go,” he told BBC Radio Merseyside. “He’s one of the world’s nicest men, so you don’t like to see people like that sacked.
“But when the chairman asked me to stand in, I was quite excited really.
“I see it as an opportunity over the next couple of weeks,” he continued. “I’m not too sure I want it to go beyond the next two weeks.
“It will be a taster, so I’ll be able to tell you whether I like it or whether I don’t, or whether I want to go back to my own little world of doing what I want to do.
“But I see it short term and I’m sure the chairman sees it as short term. If we get two or three results, I’m sure the chairman may think differently.”