Turner is also the majority shareholder of Hereford United
Hereford United manager Graham Turner will quit his post at the relegated club at the end of the season, after 14 years in the hot seat.
The 61-year-old ex-Wolves, Aston Villa and Shrewsbury boss will remain their director of football and chairman.
First-team coach John Trewick will be offered the position.
Turner, second longest-serving boss in England behind Sir Alex Ferguson, told the club website: "I sincerely hope this won't be my last managerial post."
He added: "Whatever mitigating circumstances there may have been which led to the disappointing season it is the manager who must ultimately take responsibility for results. That I have done.
"John is a very experienced and respected football man who is capable of having an impact on the players and giving the club the impetus to put us into contention for a quick return to League One.
"I would like to reiterate my apologies to all our supporters for our poor league position.
"I'm sure that like me they looked forward to a season in League One following last season's promotion, only to be disappointed.
"I would also like to thank them for their support for me over the years and hope that support will continue for the club, the new manager and the players."
Former Bulls player-coach Phil Robinson told BBC Hereford & Worcester: "I am surprised because I know how much he loves the day-to-day involvement with the players but I also know how much work goes into keeping a club the size of Hereford running and financially stable.
"Combing both must be an incredibly difficult job and he's done it for so long that maybe he needs to concentrate on he running of the club himself.
"I know he's put an enormous effort into the club and I'd like to think the supporters are proud of what he's achieved there, so I don't think he'd want to give up on that too soon."
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