Colchester United owner Robbie Cowling said sacking manager John Ward had been a hard decision to take, but the time was right to act.
The U's chief said that he was sure things would turnaround: "We're a good club, we've got a good squad and things will turn around for us.
"We've had one bad defeat against Tranmere, but apart from that they've been by the odd goal.
"We would argue that the goal we conceded against Crawley was punched into the net and the penalty given against us the other day, the guy tripped over the ball."
Cowling said the club would take its time to ensure they got the right man for the job.
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Man-of-the-match David Willey led Northamptonshire to 102-run victory over Surrey in the T20 final in Edgbaston, Birmingham.