Tranmere chairman Mark Palios insisted the club do not have the luxury of time after sacking manager Mike Jackson following Saturday's 1-0 defeat to Morecambe.
The defeat was Rovers' fourth in their last five games and saw them slip to 18th in League Two.
And the club decided to move on from Jackson just three months after he replaced Micky Mellon as manager.
Speaking to the media minutes after Jackson was dismissed, Palios said: "I appointed Mike because he is an excellent coach who had some forward thinking ideas and had played a big part in two promotions enjoyed under Micky Mellon's tenure.
"I therefore felt he deserved the chance to step up when Micky left. Despite the fact this is a season which has thrown up challenges that no manager has had to face before, I have regrettably come to the conclusion that it is right for the club to make a change of manager.
"This is a season which could still yet be shortened due to Covid so we do not have the luxury of time to turn things around.
"The club will always be grateful to Mike for his contributions first as a player, then as assistant as well as his efforts as first-team manager.
"I hate cliches but it's a results-based game. The players were still playing for the manager and this was the hardest decision I have made.
"We have not interviewed anyone yet, in about an hour's time I will be going down a list with venom.
"Everyone knows the results, and it is four defeats in five."
Derek Adams believed his side were good value for the win, their first in five games, which came courtesy of Adam Phillips' second-half penalty.
He said: "Yes it should have been three or four, we were the far better side.
"We were better in possession and had 60 per cent to their 40 and we should have had a penalty in the first half.
"We could have scored more in the second half, but overall it was one of our best performances we have had all season.
"We were great through the middle, the two in the midfield were great as well.
"Aaron Wildig did well and Adam Phillips also looked good, and we were solid all afternoon at the back.
"It was a big performance because we knew that Tranmere were under pressure and it is never easy coming to a club when that is the case.
"Phillips took his penalty well, and we passed the ball really well. It was a top League Two performance.
"Our keeper has also made a great save with his foot when we got caught out at the back post.
"If we don't take your chances that is what happens, and you need people to make them saves."
