Chris Holland, who only succeeded Wharton as chairman in December, has resigned along with directors Brian Borrill and John Godfrey. Holland was close to bringing in former Scotland defender Colin Hendry to work alongside Russ Wilcox for the remainder of the season.
Hendry had visited Glanford Park and was prepared to move to the town. At a planned board meeting tomorrow Holland was going to reccomend Hendry be given the manager's job, but the appointment has now been scuppered.
Brian Laws will take charge of the side for Saturday's Third Division game at Huddersfield Town.
He had been sacked by the board by a split vote, who were 4-2 against him, after a run of just three wins in 18 games.
Luke Thornhill is editor of Iron-Bru.net, where you can find all the latest news from Glanford Park.