The former Braintree Town boss left the National League South club last night having been at the helm since 2016.
The Clarets, again defeated in the play-offs last season, have fallen short of expectation this time around.
Defeat to bottom club Hungerford Town last weekend left the Clarets seven points off the top seven.
Chairman Steve Shore says it’s time for change - but wants the club’s next manager to share their vision for the next decade.
"Rod and his team have provided many moments that will go down in the Club’s history,” he told the club’s website.
“However, performances this season have not reached those of previous years and as such, the Board have decided that a change is now required.
"The process to find a suitable replacement begins immediately.
“The Board are unanimous in believing that the successful candidate will be the person that provides the best balance between proven managerial success and the ability to inspire and support the delivery of the club’s 10-year vision.
"Arrangements for the interim leadership of our first team whilst the recruitment process is completed, will be confirmed within the next 48 hours.
"In the meantime, I know you will join me in wishing Rod well for the future.”