Chris Hughton has been dismissed as Newcastle United manager – despite guiding last season's Championship winners to 11th in the Premier League.

Former Magpies and England midfielder Peter Beardsley is set to set up from his role as reserve team boss to take charge of first team affairs until a new manager 'with more managerial experience' than Hughton is appointed, according to a Newcastle statement.

United suffered a 3-1 at West Bromwich Albion on Sunday, but had been adapting well enough to life back in the top flight following Hughton's efforts in the second tier last season.

Newcastle United's statement added: 'The board would like to place on record their thanks to Chris for his considerable efforts during the club's transition from Championship to Premier League club.

'Chris has shown exceptional character and commitment since being appointed manager in October 2009. The club wishes him well in the future.

'The task of appointing a new manager now begins. An announcement will be made shortly regarding transitional arrangements pending the appointment of a successor.'

Bookmakers are already feasting on speculation on the new manager to be appointed at St James Park, with former West Ham United and Southampton manager Alan Pardew the well backed 4/6 favourite.

Norwich City boss Paul Lambert is also included in the list, but his odds have drifted to 20/1.

• Odds on Newcastle United's next permament manager (via Paddy Power): Alan Pardew 4/6, Martin O'Neill 7/2; Alan Curbishley 9/1; Peter Beardsley 10/1; Martin Jol, Paul Lambert 20/1; Alan Shearer 22/1; Joe Kinnear, Gianfranco Zola 22/1; Slaven Bilic, Walter Smith 25/1; Lee Clark 28/1; Gus Poyet 33/1; Steve McClaren, Ian Holloway, Temuri Ketsbaia 40/1; Didier Deschamps, Kevin Keegan, Guus Hiddink 50/1; Stuart Pearce, John Toshack 66/1; Diego Maradona 80/1; Bryan Robson, Glenn Roeder 100/1; Paul Gascoigne 250/1.