"Decisions like this one are by no means pleasant to make. However, the board is unanimous in its decision that it is necessary to part ways with Jakob Vestergaard," says CEO Lasse Honoré.
"Unfortunately, we have to acknowledge that the team's performance and results over an extended period have not lived up to the club's ambitions. The time has therefore come for Odense Handball to look for new leadership for the head coach position."
Assistant coach Mark Strandgaard will temporarily take over as head coach until the club has a new head coach in place.
Odense will face Norwegian outfit Storhamar in the women's Champions League on Sunday afternoon.