Bjork noted the search for a new coach will begin immediately, He credited Kennedy for making the announcement now and giving the school plenty of time to find his successor.
The Rebels are just 11-14 this season, and 4-8 in a suddenly improved SEC.
That track record might not get fans in Lexington, Chapel Hill or Lawrence excited, but Ole Miss doesn't have the resources most power-conference schools possess. The university finally built a practice facility in 2010 and opened a new arena in 2016, but modern facilities can only do so much to boost a program with no obvious recruiting base.
Kennedy was hired in March of 2006, replacing Rod Barnes, who at the time was the most successful coach in program history.
While there were certainly flashes of brilliance for the Kennedy-led Rebels, Ole Miss only managed to make it to two NCAA Tournaments during his tenure with the program. He also spent one season at Cincinnati between Bob Huggins and Mick Cronin, producing a 21-13 record.
Ole Miss hosts Arkansas Tuesday night before traveling to Mississippi State on Saturday. The Rebels have a right to expect a return on the investment that they made by opening their new facilities. The Rebels' memorable run as the 2013 SEC Tournament champions resulted in a trip to the NCAA Tournament, where the Rebels upset No. 18 Wisconsin in the opening round. The Demon Deacons have landed one NCAA bid since then. The team won 27 games that year, tied for the most in any single season in Rebels history.