The writing has been on the wall for weeks for Frank, as Pistons owner Tom Gores had expected the team to compete for a playoff berth this season. Detroit finished with a 29-53 record, marginally worse than their 25-41 mark last season, Frank's first on the job.
Their next coach will be their fifth in seven years, with Frank following John Kuester, Michael Curry and Flip Saunders out the door.
However, the presence of Greg Monroe and promising rookie Andre Drummond could make their job more attractive to potential head coaches, as the Pistons seem to be finally heading in the right direction after years in the wilderness following the dissolution of their 2004 championship team.
Frank, still only 42 years old, was the coach of the New Jersey Nets from 2003-2010, ultimately losing his job after an 0-16 start to his final season.
Update: The Pistons made it official, sending the following press release at 2:14 p.m. ET:
AUBURN HILLS, Mich. – Detroit Pistons President of Basketball Operations Joe Dumars announced today that Lawrence Frank will not return as the team’s head coach.
"We thank Lawrence for his hard work and dedication, but we feel it is in the best interest of the franchise to make a change at this time," said Dumars. "Decisions like this are never easy and we wish Lawrence well in the future."
Frank, who was named head coach on August 3, 2011, tallied a regular-season record of 54-94 (.365) in two seasons with the Pistons.