Watts, who has held the post for 10 years first as a volunteer and then as a part-time paid contractor, is to relinquish his role immediately and will be replaced by a Performance Management Group.

A full-time performance manager to oversee the day-to-day operations of the Olympic squad will also be appointed.

They will work in concert with UK Sport to bring state-of-the-art performance management tools and processes to ensure Britain fields the strongest possible fencing team as the April start to the Olympic qualifying period approaches.

Fencing was last year awarded £2,519,335 ($3,899,227) funding by UK Sport for the four-year cycle which also includes London 2012. They have been set a target of winning at least a bronze medal at London.

Britain has won a total of 16 fencing medals in the Olympics, including one gold.

But a British fencer has not stood on the podium since Tokyo in 1964 when Henry Hoskyns won a silver in the épée event.

Britain's team underperformed at the World Championships in Paris last month, finishing eighth in the absence of top-ranked Richard Kruse, who had a fractured bone in his foot.

Coaches and support staff will remain in place for now, British Fencing's chief executive Piers Martin has promised but warned an immediate financial and performance review will determine future needs.

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