Mike Bobo and Colorado State reached a mutual separation agreement that will end the coach's tenure with the Rams, athletic director Joe Parker said Wednesday.
Bobo, who intends to pursue other opportunities, went 28-35 in five seasons at Colorado State, including a 7-17 mark the past two years. The Rams ended their season at 4-8 with a loss Friday against Boise State.
"Unfortunately, the results the last couple of seasons have not been what we wanted," Bobo said in a statement. "I can assure you this was not a reflection of the commitment and hard work that we all put into the program the last five years. Our players and coaches never quit and fought through the final whistle against Boise State."
Terms of the separation were not immediately available. Bobo had been due a $5.5 million guarantee if fired before Jan. 1, which would drop to $3 million afterward. His guarantee is subject to offset and mitigation.
"I would like to thank Mike Bobo for his professionalism, commitment and efforts in leading our football program for the past five seasons," Parker said in a statement. "He has devoted an innumerable amount of energy to moving Colorado State football forward and fulfilled his promises to developing our student-athletes in every dimension."
Bobo, 45, took Colorado State to bowl games after three consecutive 7-6 seasons before going 3-9 in 2018.
He is expected to be a strong candidate for offensive coordinator vacancies like the one at South Carolina. Before Colorado State, Bobo spent 14 seasons on Georgia's staff, with the last eight as the Bulldogs' offensive coordinator and quarterbacks coach. During his playing days, he was the quarterback at Georgia, where he was teammates with current Georgia coach Kirby Smart and South Carolina coach Will Muschamp.