(CNN) -- English Premier League side Swansea City have sacked manager Michael Laudrup.
Announcing the news Tuesday on the official website, club chairman Huw Jenkins said in a statement: "It is a decision we have taken reluctantly. But it's a decision made in the best interests of Swansea City Football Club and our supporters.
"It is the first time in nearly 10 years that the club has parted with a manager in this way, but we had to remove the constant uncertainty surrounding the club and Michael's long-term future with us."
Laudrup guided Swansea to the League Cup glory and ninth in the Premier League table last year and this season has been far from disastrous with the club lying 12th in the table and into the last 32 of the Europa League.
But a recent slump in form -- six points from ten league games which includes four losses in their last five matches -- means Swansea are just two points above the relegation zone with 24 points.
Jenkins went on to thank the 49-year-old Dane for his work since replacing Brendan Rodgers 18 months ago.
Club captain Garry Monk replaces Laudrup "for the foreseeable future," Swansea said.
"I hope all our supporters can fully understand how difficult this period has been for us and I would urge everyone connected to the football club to get behind Garry Monk, the staff and players.''
Laudrup is the seventh manager to be sacked this season in England's top flight and follows the recent departures of Malky Mackay (Cardiff City), Andre Villas-Boas (Tottenham Hotspur), Steve Clarke (West Bromwich Albion) and Martin Jol (Fulham) who were all dismissed in December.