The One-Day Cup winners are looking for their fourth CEO in less than two years following the decision
Somerset have confirmed the exit of Andrew Cornish as chief executive.
The Taunton club are now looking for their fourth CEO in less than two years following the development.
ESPNcricinfo first reported the news on Sunday, suggesting that the county were worried over failure to hit profit targets.
A statement read: "Following speculation in the media, and in a bid to minimise the spread of rumours across numerous platforms, Somerset County Cricket Club would like to take this opportunity to inform our loyal Members and supporters that the Club have taken the decision to terminate Andrew Cornish’s term of employment as Chief Executive."
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On the field, Somerset are enjoying a fine campaign having won the One-Day Cup at Lord's against holders Hampshire, their first major trophy since 2005.
They remain in contention to claim a first-ever County Championship title and are on the verge of qualification for the T20 Blast quarter-finals.
All seven of their home Blast matches were sold out while Taunton also hosted three World Cup matches in June.
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