Michael Maguire’s reign as South Sydney NRL coach has ended with immediate effect.

The Rabbitohs issued a statement after a Tuesday board meeting, saying Souths and the 2014 premiership-winning coach had agreed to part company.

Maguire piloted Souths to that long-awaited premiership, while also collecting the 2015 World Club Challenge and 2015 Auckland Nines since joining the club in 2012.

But the Rabbitohs have stagnated since, finishing the 2017 campaign with just nine wins and well off finals pace.

Rabbitohs general manager of football Shane Richardson said the decision was in the best interests of both parties.

“We feel it’s time for the club to go along a different path in terms of the leadership of the team and the direction the team is taking, and they are the responsibilities of the head coach,” Richardson said.

“Michael also feels it’s in his best interest to head in a different direction in his coaching career.”

Maguire’s release adds weight to a possible move to Gold Coast, the Titans chasing a coach since sacking Neil Henry with two games remaining in the season.

“Michael is a great head coach and we believe he will go on to do a good job at another club but, as I said, it’s time for a change here at South Sydney,” Richardson said.

“On behalf of the club’s members, we sincerely thank Michael for his efforts over the past six years … and we wish him and his family the best of luck for what lies ahead in his career and his family’s future.”