"After some thoughtful discussions with [owner Andy Barroway], we both agreed that it was best for me to move on," Tippett said in a statement issued by the team. "I have thoroughly enjoyed my time with the Coyotes and wish Andy and the entire organization all the best in the future."
Tippett, 55, was 282-257-83 in eight seasons as Coyotes coach. He had the second-longest tenure with one team among NHL coaches behind Joel Quenneville, who was hired by the Chicago Blackhawks four games into the 2008-09 season, but Arizona had failed to qualify for the Stanley Cup Playoffs the past five seasons.
"On behalf of the entire Coyotes organization, I would like to sincerely thank Tip for all of his hard work and the many contributions he made to our organization," Barroway said in the statement. "Tip is a man of high character and we are very grateful for his leadership during his tenure as our head coach."
The announcement came five days after the Coyotes traded goaltender Mike Smith to the Calgary Flames and three days after they announced their decision to not offer a contract to longtime captain Shane Doan.
"Dave is an excellent head coach and a great person," general manager John Chayka said in the statement. "I have the utmost respect for him and the job he did for the Coyotes. It was a privilege to work with him and I wish him the best in the future."
Tippett left as coach one day before the first round of the 2017 NHL Draft presented by adidas in Chicago.
Barroway, who reportedly bought out minority owners to take full control of the Coyotes earlier this month, said there were philosophical differences with Tippett on how to build the team.
"Therefore, we mutually agreed that it is in everyone's best interest to have a coaching change in order to move our franchise forward," he said.
Tippett agreed to a structured buyout, the Coyotes said. On May 5, 2016, he signed a five-year contract that replaced his former agreement and also was given the title of executive vice president of hockey operations. Those moves coincided with Chayka being promoted to GM.
Tippett was the franchise's sixth coach since the first iteration of the Winnipeg Jets moved to Arizona in 1996 and became the Coyotes. He replaced Wayne Gretzky for the 2009-10 season. His 283 wins and 622 games are franchise highs since the relocation.
Tippett won the Jack Adams Award as best coach in the NHL in 2009-10, his first season in Arizona. He guided the Coyotes to the playoffs each of his first three seasons, getting as far as the Western Conference Final, in 2012.
Tippett is 553-413-120 with 28 ties in 14 seasons as coach of the Coyotes and Dallas Stars.
The Coyotes said their search for a new coach will begin immediately.
In April, Arizona fired assistant Newell Brown, who coached the power play. He also had signed a multiyear extension last spring.
