Ray McKinnon is leaving Queen’s Park just weeks after leading the club to the League Two title.
The Spiders secured promotion last month following a 0-0 draw at home to Elgin.
But it won’t be McKinnon – who has had previous managerial spells at Falkirk, Morton, Dundee United, Raith Rovers and Brechin City – leading the Glasgow side in League One next season.
Queen’s Park said in a statement: “While the decision will surprise many after gaining promotion to League One next season, the action had been agreed jointly to allow the club to begin the long-term task of restructuring once the initial aim of promotion had been secured.
“This will be aimed at delivering a new and innovative model in the Scottish game, rooted in our community and participation for all.”
Leeann Dempster was appointed as the club’s new chief executive in January following spells at Hibs and Motherwell.
She said: “We are grateful to Ray for the work he has done, for leading the side to the League Two title and setting the Club off on its journey in such a positive way. We wish him well.”
Queen’s Park said on Monday that Dempster’s appointment involves “creating the structures and culture the club hopes will create something new in the Scottish professional game and more announcements will follow in the coming weeks”.