Steve McClaren described managing QPR as an honour and a privilege after he was sacked by the west London club on Monday, but felt he could have been given more time.
McClaren was dismissed following Saturday's 2-1 home defeat to Bolton, with his side having won once in their last 15 league games.
The former England manager expressed his disappointment at not being given the opportunity to see out the season, after recovering from a poor start in the division.
"It's been a privilege and honour to have managed QPR, a club with such great history and tradition in English football," McClaren said in a statement released by the League Managers Association (LMA).
"I am very disappointed to be leaving at this stage of the season after everybody has worked so hard to achieve the club's target of staying in the Championship.
"After a bad start, our performances midway through the season saw us challenging for a play-off place.
"Unfortunately, since then, results have proved inconsistent but with seven games to go I felt very confident that staying in the league was achievable."
QPR, on 44 points, have an eight-point cushion over Rotherham in 22nd place and McClaren felt more patience in him would have seen the club remain in the Championship.
"We worked hard to build an environment and culture to develop young players for the long-term stability of the club," McClaren continued in his statement.
"However, we are in a results based business and unfortunately both results and patience weren't forthcoming.
"Thank you to the supporters who stayed loyal to the players throughout the ups and downs of the campaign. I wish everyone well for the remainder of the season."