The Magpies chief was appointed by owner Mike Ashley in 2008 but has decided to leave St James' Park just days after the arrival of Joe Kinnear as the club's director of football
|12/1||Newcastle are 12/1 with Coral to be relegated
Kinnear claimed Llambias had quit in a radio interview on Monday evening and his departure was verified early on Wednesday morning in a short statement on the Magpies' official club website.
"I have had an incredible journey during my five years at the club, including some challenging times," he said
"I will reflect with great fondness on my time in the North East and, in me, Newcastle United have a lifelong supporter.
"I want to thank the staff for their hard work, our fans for their support of the club, and wish them all well for the future."