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The New York Rangers and head coach Gerard Gallant ahev "mutually agreed to part ways," the team announced on Saturday. The Rangers lost to the New Jersey Devils in the first round of the 2023 Stanley Cup Playoffs after blowing a 2-0 series lead.

Gallant spent just two seasons with the Rangers, and he led the team to the postseason each time. He leaves the team with an overall record of 99-46-19.

The Rangers released a statement from president and general manager Chris Drury. Drury said the decision to make a coaching change was a mutual one, and the Rangers will begin their search for Gallant's replacement right away.

"I want to first thank Gerard for his work and commitment to #NYR during his time as head coach," Drury said in his statement. "I have a ton of respect for Gerard as both a coach + person and truly appreciate everything he did for us on and off the ice these last two seasons."

"After my evaluation of the season and discussions with Gerard, we mutually came to the conclusion that a change would be beneficial for both parties. I wish he and his family all the best in the future. Our search for a new head coach will begin right away."

Gallant released a statement of his own and reiterated that this change was in the best interest of both sides.

"I would like to thank Mr. Dolan, Chris + the Rangers organization for giving me the opportunity to be their head coach these last two seasons," Gallant said in his statement. "The experience of coaching an Original Six franchise with such rich history and an incredibly passionate fanbase is something I will never forget. After conversations with my family and Chris, it became clear that this was the right decision for both myself and #NYR at this time."

The Rangers hired Gallant prior to the 2021-22 season, and in his first year on the job, Gallant led the blueshirts to the Eastern Conference Final.

This past season, New York had Stanley Cup expectations, and the team swung for the fences at the trade deadline with the acquisitions of Vladimir Tarasenko and Patrick Kane. However, the Rangers fizzled out in the playoffs, losing to the Devils in the first round.