Steve Coppell has resigned as manager of Reading after their failure to secure an immediate return to the Premier League, the club confirmed.
Reading were beaten 2-0 by Burnley on Tuesday to lose their Championship promotion playoff semi-final 3-0 on aggregate after the club had finished fourth in the table.
"I feel it's the best thing for the club and myself for me to leave," Coppell told the club's website.
He continued: "I have thoroughly enjoyed my time as Reading manager and would like to thank everyone connected to the club for the support I have received."
Royals chairman Sir John Madejski said: "I am very disappointed to confirm that Steve has decided to step aside as our manager, but I respect his wishes.
"I would like to thank Steve sincerely for everything he has done for Reading over the last five and a half years, which has been the most successful period in the Club's history."
Former Manchester United winger Coppell took over at Reading in 2003 and took them into the top flight of English football for the first time in 2006, where they stayed for two seasons before being relegated.
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