German club FC Cologne agreed to part ways with manager Timo Schultz on Monday, a week after being relegated to the second division.

Schultz took over in January with Cologne in the drop zone but was unable to keep the club in the top flight.

"After comprehensive joint analysis of the past season, FC Cologne and head coach Timo Schultz have mutually agreed not to extend the employment contract," the club said in a statement.

Cologne, three-time champions in the top flight, were relegated after five seasons in the top division.

They last won a major trophy in 1983 when lifting the German Cup for the fourth time and have bounced between the first and second divisions in recent decades.

Cologne joined Darmstadt in going down, while St Pauli were promoted alongside first timers Holstein Kiel.

Later on Monday, second division Fortuna Duesseldorf -- Cologne's bitter rivals -- host first division Bochum in the Bundesliga relegation playoff second leg, with Fortuna leading 3-0 from the first leg.