Brown Ferguson hopes Stenhousemuir will continue to move forward – despite being surprisingly sacked on Tuesday night.
The Warriors board made the announcement – the 16th departure in Scotland since the start of August – after meeting on Monday and deciding on change with the club ninth in League One – but just six points from the promotion play-offs.
Boss Ferguson, in charge since February 2015, admitted he didn’t see the axe coming, but wished the Warriors well.
Colin McMenamin will look after the first team until a successor is found.
Ferguson said: “I am obviously gutted to be leaving the club. I am very surprised by the decision, but proud of my efforts, along with all of the staff and the people behind the scenes.
“I have had a lot of good times, some fantastic years at the club and don’t want anything to overshadow that. I want to see the club move forward in the right direction.”
The Warriors face Dumbarton in a League One basement battle this weekend.
Chairman Iain McMenemy told The Falkirk Herald: “It was an extremely difficult decision. I, like many others at the club, feel close to Brown but the decision was made by all on the board. It is not all about this season.
“What we want is to see a motivated squad coming out and competing. I think we have a strong team and should be competing with teams round about us.
“It is the tightest of leagues and all it takes is a run of wins to send you up the table. Likewise the opposite is also true.”
The Warriors will accept applications from candidates at the start of their careers as well as experienced coaches.
He added: “While we don’t want to hang about forever, we will take our time to find the right candidate and make the right decision.”
Ferguson was a popular and amenable figure around Ochilview. He took charge of 168 Warriors games, winning 52 in three-and-a-half years at the helm.