Todd follows Jim Smith down the road as the Rams look for a manager who can get them out of what looks a doomed relegation fight.
Earlier this morning the club denied rumours that Fabrizio Ravanelli would be asked to take on the player coach role at Pride Park. Ravanelli later said in an interview from his native Italy that he didn't know anything about the role but would consider it if asked.
The Rams now have reserve team coach Billy McEwan in charge for the time being. McEwan will try an prepare the squad for Saturdays relegation clash with fellow strugglers Ipswich Town.
Here is the official club statement on Todds departure....
Derby County have parted company with manager Colin Todd in a bid to give new impetus to the club's Premiership survival campaign.
Reserve team manager Billy McEwan takes charge of first team affairs for this Saturday's crucial home game against fellow strugglers Ipswich Town.
Chief Executive Keith Loring said: “The decision made by the Chairman and Board of Directors was unanimous and Colin has been aware the Chairman was not happy with the way things have been going.
“Everyone at Derby County remains committed to helping this club stay in the Premiership and with 16 games to play the overwhelming feeling is that we need a change of direction and new impetus.
“Colin was made assistant manager in October 2000 and when Jim Smith left a year later it was felt he should be given a chance as manager. However since then we have lost 11 games of the 17 played. We are second-to-bottom in the league and a week ago were knocked out of the FA Cup by a struggling Third Division team. Clearly things have not improved.
“The Board has not taken this decision lightly. As a player Colin Todd remains a Derby County legend and it was everyone's wish that he would be successful too as a manager.”
Commenting on the timing of the announcement, Chairman Lionel Pickering said: “The Board met last Wednesday and it was agreed to review the manager's position this week in the light of Saturday's match at Aston Villa.
“The Directors were due to meet on Tuesday, but following media speculation over the weekend we felt it only fair to Colin and the club to make this announcement now.
“Tomorrow's meeting will still take place as the Board decide how to move the club forward, but on their behalf I want to make it absolutely clear no conversations have taken place with Fabrizio Ravanelli concerning a managerial or coaching position at Derby County. Quite simply no discussions have taken place with anyone regarding Colin's replacement, nor will they until after tomorrow's meeting.
“We are anxious to make this situation clear in fairness both to Fabrizio and Colin Todd. Fabrizio is a Derby County player who has been 100% loyal to Colin and it is important that media speculation linking his name with the manager's position does not affect his relationship with his fellow players.”
Until the Board meets again there will be no further comment from the club, but fans are welcome to have their say by using this email link.