Ex-Wigan Athletic boss sacked by Scottish club
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The 51-year-old - who had a disastrous short spell in charge of Latics in 2014-15 - leaves County after two-and-a-half years in charge.
They are second-bottom of the Scottish Premiership, ahead of Livingston on goal difference.
"Malky joined the club in the summer of 2021 and had great success in leading the team to a top-six finish and a manager of the year nomination in his first season.
"His determination and drive to succeed was a contributing factor in saving Ross County from relegation at end of season 2022/23 with the now historic penalty shoot-out play-off win against Partick Thistle in Dingwall.
"But, after a meeting between Malky, chairman Roy MacGregor and CEO Steven Ferguson, the club have decided that a change is now required."
McGregor added: “Malky has brought so much more to the club and the wider staff than just football management.
"The board would like to put on record our thanks for his contribution over the last two-and-a-half years and wish him all the best in the next chapter of his career.”
Latics striker Josh Stones spent the second half of last season on loan at Ross, making six appearances, all off the substitutes’ bench.
One of his team-mates there was ex-Latics man Gwion Edwards, who also moved to the Scottish club midway through last term.