Epstein, who has been on the job since Oct. 21 and hired Jed Hoyer as general manager last week, said a search for a managerial replacement would begin immediately. A statement from the team quoted Epstein as saying any candidate must have managing or coaching experience in the major leagues.
"While Mike is clearly an asset to any organization and any major league staff, Jed and I believe that the Cubs would benefit long term from bringing in a manager for 2012 who can come in with a clean slate and offer new direction," Epstein said.
Quade's tenure as Cubs a manger was just more than one full season. He took over the team Aug. 22, 2010, when Lou Piniella abruptly retired. The team went 24-13 the rest of the season and Quade was named manager on Oct. 19, 2010.
Chicago went 71-91 this past season, finishing fifth in the sixth-team National League Central.
Speculation as to who might be the next Chicago manager immediately turned to Terry Francona, who worked with Epstein for the Boston Red Sox until he was released after this season. Francona has also been suggested as a replacement for Tony La Russa, who announced his retirement Monday, three days after he led the St. Louis Cardinals to the World Series championship.