He would be seen as the ideal candidate to dovetail with Buttler, but unpicking – or accommodating – his franchise commitments could take time.
The vacancy could come too soon for Andrew Flintoff, the fan favourite who has returned to cricket following a life-threatening car crash while filming for Top Gear and is currently leading Northern Superchargers in The Hundred.
Other high-profile names who have been linked include Australia’s Mike Hussey, Jonathan Trott and Simon Katich.
Eoin Morgan, Buttler’s predecessor who retired within a few days of Mott taking up the role, has ruled himself out.
Announcing the news, Key said: “After three World Cup cycles in a short space of time, I now feel the team needs a new direction to prepare for the challenges ahead.
“This decision was not made lightly, but I believe it is the right time for the team’s future success.
“With our focus shifting towards the Champions Trophy early next year and the next cycle of white-ball competition, it is crucial that we ensure the team is focused and prepared.
“Marcus Trescothick is well respected in the dressing room and will take charge of team affairs alongside white-ball captain Jos Buttler.
“Marcus and Jos have a good rapport, and I think their partnership will help us maintain continuity and stability.
“On behalf of everyone connected to England cricket, and me personally, I would like to thank Matthew for all he has done for the team since his appointment.
“He can be proud of his achievements as he leaves his post as one of only three coaches who have won a Men’s World Cup with England.”
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Mott, who insisted after the T20 World Cup in the Caribbean that he remained the right man for the job, said: “I am immensely proud to have coached the England Men’s team; it has been an honour.
“We have put everything into trying to achieve success over the past two years, and I am incredibly proud of the character and passion that the team has displayed during that period, including a magnificent T20 World Cup victory in 2022.
“I would like to thank the players, management, and everyone at the ECB for their commitment, support, and hard work during my time. I leave with many great friendships and incredible memories.
“Finally, I would like to thank the England fans, who have always backed us and given us fantastic support wherever we have travelled around the world.”
Trescothick, whose aggressive style of batting was ahead of its time when he was holding court at the top of England’s batting order between 2000-2006, added: “England cricket is in a strong position, and the potential is huge, given the quality we have available.
“It is about harnessing that potential and developing the work that has already been put in place by Mathew Mott and the rest of the set-up.
“I’m excited about the challenge and shaping how we want to play.”