Football Australia and Tony Gustavsson have mutually agreed to part ways following the Matildas’ Olympics exit, ending the coach’s four-year tenure with the national team.

The Swedish coach addressed the players and staff following Wednesday’s loss to the United States in Marseille, with Football Australia announcing the decision a few hours later.

Gustavsson’s contract was due to expire in September.

“It has been a great honour and privilege to have been able to be the head coach of the Matildas over the past four years,” Gustavsson said in a statement.

“This journey with the team has had many incredible moments and memories that I will forever treasure.

“Thank you to the incredible players for letting me play a small part in their stories, my staff for being beside me every step of the way, Football Australia for backing our vision for this team, the Australian football family for embracing me and the Australian public for the tremendous support.

“Australian football will be forever in my heart, and I will be watching on and cheering on your success in the future.”

After suffering defeats to Germany and the USA, the Matildas failed to progress beyond the group stage of an Olympics campaign for the first time since Sydney 2000.

Football Australia chief executive James Johnson thanked Gustavsson for his “strong contribution, passion and commitment”, confirming the Matildas are on the lookout for a new head coach.

“Tony has been an integral part of the Matildas’ journey over the past four years, with a fourth-place finish at the Tokyo 2020 Olympics and the FIFA World Cup Australia and New Zealand 2023,” Johnson said in a statement.

“While our Olympic Games campaign has ended, we are proud of the commitment of our players and staff. The Matildas have shown spirit and resilience throughout the qualification run and the tournament in France. This group of players have over the past four years made a significant impact on Australian football and we are looking forward to the next four-year cycle of the team.

“As part of our commitment to continuous improvement, we will conduct a thorough review of the campaign as we do with all our national teams following the conclusion of tournaments and each cycle. This review will identify areas for improvement and ensure we are well-prepared for future challenges. The process for the recruitment of the Matildas head coach will also commence immediately.”

The Matildas’ next major tournament is the AFC Asian Cup on home soil in 2026, while the team has no fixtures scheduled until October.