Kieran McKenna has stepped down as Ipswich Town manager, with the club announcing his surprise resignation on Wednesday evening. The 40-year-old Northern Irishman took charge at Portman Road in 2021 and guided Ipswich to three promotions in five years, finishing as runners-up on each occasion. He was also the first Town manager to win an East Anglian derby in 16 years, defeating Liam Manning's Norwich City last October. Speculation surrounding McKenna's future at Portman Road had intensified in recent weeks, with Fulham reportedly identifying him as a leading candidate to succeed Marco Silva after his exit from Craven Cottage. Under the terms of his contract, which was due to run until 2028, Ipswich stood to receive £7m in compensation for his services. However, the Tractor Boys remain financially protected, with the payment still triggered should McKenna take another job within the next 12 months. Speaking to club channels following his departure, a tearful McKenna said: "It is with a mixture of gratitude, pride, sadness and contentment that I have decided to step down from the honour of managing this historic football club." The club's chairman, Mark Ashton, added: "Like so many, I am of course gutted that our journey together has come to an end, but I understand and respect the decision he has made after five incredibly intense years." Attention now turns to McKenna's successor, who will be tasked with keeping the club in the Premier League next season. Current Strasbourg boss Gary O'Neil is among the early bookies' favourites, priced at 1/2, following reports from talkSPORT suggesting the ex-Norwich man is a candidate for the role. O'Neil spent two years at Carrow Road after joining from QPR in the summer of 2014, making 55 appearances, including one in the 2015 Championship play-off final success over Middlesbrough.