 Gibson (left) hired Southgate in 2006
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Middlesbrough chairman Steve Gibson has revealed the decision to dismiss manager Gareth Southgate had been made before Tuesday's 2-0 win against Derby.
Gibson said the club's long-term future was a key factor in the move and also revealed that moves to replace Southgate also pushed the decision.
"One good result wasn't going to change that decision," Gibson said.
"We had a strategy for Gareth's replacement. Timing was determined by the implementation of that strategy."
Among the favourites to replace Southgate is former Celtic boss Gordon Strachan, who has been out of work since leaving the SPL side in May, while other names linked are Leicester City manager Nigel Pearson and former Newcastle and Blackburn manager Graeme Souness.
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606: DEBATE
Matt Newsum - BBC Sport
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Southgate's departure comes with Middlesbrough fourth in the Championship after 13 games, just a point behind leaders West Brom.
However, with three defeats at home already this season, the latest of which came against Watford on Saturday, Gibson admitted that the long-term ambitions of the club had to take priority over short-term form.
"When I sat down and considered our start to the season, I felt that the league table was actually more favourable than some of our performances," Gibson's statement on the club website read.
"Then I looked at the important games against the teams immediately around us, and took those results into account.
"In general the results and the performances have not been to the level I would have hoped for.
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Gareth's integrity and knowledge of the game can't be questioned and I think in the long term he has the attributes to become a very good football manager
Steve Gibson on outgoing boss Gareth Southgate
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"Before last night, our five home games had brought in seven points. That will not get us promoted - and promotion is the only objective for the season."
Despite Southgate's impromptu exit from the club where he made more than 200 first-team appearances, Gibson remains confident that the former England international can continue to enjoy a profitable career in football management.
"His integrity and knowledge of the game can't be questioned and I think in the long term he has the attributes to become a very good football manager," said Gibson.
"He has been absolutely fantastic to work with because of his honesty and the dignified way he conducts himself.
"He will never be forgotten in Middlesbrough. As skipper he was the first ever from the club to lift a major trophy. He has guided the club through difficult times as a manager."
Gibson has been involved with Middlesbrough since joining the board of directors aged 26, and was a founder of the consortium that brought the club out of liquidation in 1986.
He has been chairman since 1994, and has overseen a spell which has included an FA Cup final appearance, three League Cup finals, including a win, and a Uefa Cup final for the Teessiders.
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