Pools announced Lee’s exit less than 48-hours before their final game of the season against Colchester United after ‘a significant downturn in results and performances over recent months, despite investment in new players during the January transfer window.’
Lee was in charge for five months at the Suit Direct Stadium after he replaced Dave Challinor in December.
The former Middlesbrough academy man led Pools to League Two safety as well as the fourth round of the FA Cup and the semi-final of the EFL Trophy.
But results have dwindled over recent weeks with Pools winning just one of their last 11 games which has led to chairman Raj Singh relieving Lee of his duties with just one game remaining.
But who is in line to replace Lee?
Here, at The Mail, we look at who could be next in line at the Suit Direct Stadium. Ex-Middlesbrough and Real Madrid defender Jonathan Woodgate has already ruled himself out.
The former Middlesbrough academy man led Pools to League Two safety as well as the fourth round of the FA Cup and the semi-final of the EFL Trophy.
5. Tommy Miller
Pools favourite Miller has been out of management following his exit from National League North side Spennymoor Town but is keen for another crack in the hot seat and would be another well known appointment. (Photo by Pete Norton/Getty Images) Photo: Pete Norton
6. Pete Wild
Wild was linked with the role following Dave Challinor's exit but will no doubt be focused on Halifax' National League promotion battle with two games still to play. (Photo by Lewis Storey/Getty Images) Photo: Lewis Storey
7. Peter Beardsley
Former Pools player Beardsley could be looking for a role back in football following his exit from Newcastle United. (Photo by David Price/Arsenal FC via Getty Images) Photo: David Price
8. Ross Turnbull
Turnbull enjoyed a coaching role with Pools until after their promotion from the National League where he recently joined Chelsea in a scouting position. But could the opportunity of being a manager be one of interest to Turnbull? (Photo by Alex Livesey/Getty Images) Photo: Alex Livesey