Hibs owner Ron Gordon says Shaun Maloney's sacking was simply down to "unacceptable" results.
But the American takes his share of the responsibility, admitting the decision to bring in the former Scotland international was "rushed."
Shaun Maloney was sacked less than six months after taking the job following back to back derby defeats to Hearts.
He failed to lead them into the top six and defeat to Hearts at Hampden ended their only remaining hope of European football.
Hibs go on the search for a new manager for the second time this season after replacing Jack Ross with Maloney.
But owner Gordon feels it's a decision that had to be made.
He said: "Ultimately when you look at the results, it's just really not acceptable.
"We've been actually concerned about our performance over the last couple of months, it's not been something that we've been particularly pleased with, as a club.
"And we came to the conclusion on on Monday, I think fairly decisively that we needed to make a change that it was the best thing for the club.
"We consider all the all the points that you would consider normally, which is, you know, should we let him go now? Should we wait to the end of the season? Should we give him more time?
"All those things were discussed in full. But ultimately, I think the decision of the board was to make a change."
Gordon also admits it was a "rushed" decision to bring Maloney in back in December.
He insists he was "excited" about his pedigree but admits it was the wrong decision in hindsight.
He went on: "This was Shaun's first job as a professional manager. We were excited about his pedigree, his experience, but there was a risk.
"I had that conversation with Shaun, this was a risk for the club.
"But we made that decision and I would venture to say, in retrospect, we probably rushed that. The timing wasn't necessarily the best."
