Rio de Janeiro: Carlos Alberto Parreira resigned as coach of Brazil on Wednesday following their quarter final exit at the World Cup, the Brazilian Football Confederation (CBF) said.
“After a meeting held this morning... with CBF president Ricardo Teixeira, coach Carlos Alberto Parreira left the Brazilian national team,” said a statement on the CBF’s official website.
“It was a joint decision and Parreira will not have, from today, any professional connection with the Brazilian Football Confederation.”
Former Real Madrid coach Vanderlei Luxemburgo, who was in charge of Brazil from 1998 to 2000, and former Sao Paulo and Peru coach Paulo Autuori are the favourites to take over.
Parreira, who led Brazil to their fourth world title in 1994, had been at the helm since the start of 2003 in his third stint in charge of the national team.
He won the 2004 Copa America and the 2005 Confederations Cup, on both occasions beating arch-rivals Argentina in the final.
Parreira was also Brazil coach for one year during the mid 1980s.