Bayern Munich have sacked Niko Kovac as manager after Saturday's embarrassing 5-1 defeat at Eintracht Frankfurt, the club announced on Sunday.

"The performance of our team in recent weeks and the results have shown us that there was need for action. [Bayern club president] Uli Hoeness, [sporting director] Hasan Salihamidzic and I had an open and serious conversation with Niko on this basis on Sunday with the consensual result that Niko is no longer coach of FC Bayern," Bayern CEO Karl-Heinz Rummenigge said in a club statement.

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Defeat by Eintracht was Bayern's second of the season, but they have also drawn three and are in fourth place in the league standings.

"We all regret this development. I would like to thank Niko Kovac on behalf of FC Bayern for his work, especially for winning the doubles this past season," added Rummenigge.

Assistant coach Hans Flick will take charge of Bayern's Champions League clash with Olympiakos on Wednesday and for next Saturday's key clash with Borussia Dortmund.

Kovac, who took over at Bayern in 2018 after a spell in charge of Eintracht Frankfurt, said it was the "right decision".

"The results, and also the way we last played, made me come to that decision," he said.

"During this time, our team has won the championship, the DFB Cup and the Supercup. It was a good time. I wish the club and the team all the best."

Information from Reuters was used in this report.