The football club have issued the following statement.
Peterborough United Football Club have tonight (Saturday) parted company with manager Graham Westley.
The club would like to thank Graham for his efforts on behalf of the football club.
Grant McCann will take charge of the remaining two Sky Bet League One fixtures. Chairman Darragh MacAnthony will take time to speak to prospective candidates for the vacant manager position.
The club will be making no further comment at this time.