Sporting Director Gary Holt will be in charge for the remainder of this campaign and will also head up the search for a new manager to take over.
Here, we look at 20 names from the likely to the unlikely and give our verdict on the chances of seeing them in the dugout at The Falkirk Stadium.
13. Stewart Petrie
Has done a sensational job with Montrose and earned a shot a full time management but people have been linking him with bigger jobs for years and he is very happy at Links Park. Being a Dunfermline legend doesn't help matters. Verdict: Worth a punt Photo: Michael Gillen
14. Darren Young
Similar to Petrie, he has been consistent with East Fife for a while now but links to bigger jobs never seem to materialise. Verdict: Worth a punt Photo: Michael Gillen
15. Danny Lennon
Once again, another League 1 manager doing a good job at current club Clyde. Lennon also has plenty full time management experience and success as well though but has previously distanced himself with moves away from Broadwood. Verdict: Worth a punt Photo: Michael Gillen
16. Dick Campbell
There are a long list of reasons that make this very, VERY unlikely but Campbell is exactly the sort of person needed to give some of the current crop of players the kick up the backside they need. Verdict: Unlikely Photo: Michael Gillen