Borussia Dortmund part ways with manager Rose after one season
"The day was not an easy one for all of us, as we have all held each other in high regard and continue to do so," Dortmund CEO Hans-Joachim Watzke said.
"After a season that was unsatisfactory for various reasons, we were forced to conclude that we did not achieve the maximum possible in many areas."
Rose guided Borussia Dortmund to second place in the Bundesliga last season, eight points behind champions Bayern Munich.
However, Dortmund were relegated to the Europa League after finishing third in their Champions League group behind Ajax and Sporting CP. They were then upset in the first knockout round by eventual runners-up Rangers.
"Despite a difficult season with many uncertainties, I was convinced by our path," Rose said.
"During our discussion, I developed the impression there was no longer 100% conviction among all those responsible. We, therefore, ultimately decided together to end the cooperation."
Dortmund will begin their search for a new manager in the coming days.