The Milwaukee Bucks fired head coach Mike Budenholzer on Thursday following the team’s stunning first-round exit against the Miami Heat.

Budenholzer, hired before the 2018-19 season, oversaw one of the most successful five-year runs in the history of the franchise during which the team went 271-120 (69.3%) in the regular season under his leadership.

“The decision to make this change was very difficult,” Bucks general manager Jon Horst said in a statement released by the team. “Bud helped lead our team for five incredible seasons, to the Bucks’ first title in 50 years, and into an era of sustained success. We are grateful for the culture of winning and leadership that Bud helped create in Milwaukee.

“This is an opportunity for us to refocus and reenergize our efforts as we continue building toward our next championship season.”

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Only the 1969-74 Bucks under Hall of Fame coach Larry Costello accomplished more in five seasons in going 304-106 (74.1%) and winning one title in two Finals trips.

Budenholzer was named the NBA coach of the year after the Bucks won 60 games in 2018-19 and they followed that up with a 56-win season in the pandemic-shortened 2019-20 campaign.

The highlight of his tenure was the 2021 NBA championship, the first for the franchise in 50 seasons.

The Bucks had a 39-26 record in the postseason under his direction but did not advance out of the second round in three of his five seasons. They also surrendered a 2-0 series lead in the 2019 Eastern Conference Finals to eventual NBA champion Toronto.

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Budenholzer exits Milwaukee with the third-most wins in franchise history behind Hall of Famer Don Nelson (540-344) and Costello (410-264) but Budenholzer’s 69.3% winning percentage is easily the best in franchise history.

Only Nelson (42) won more playoff games.

Milwaukee hired Budenholzer after he spent five seasons in Atlanta, where he went 213-197 (52%).

This article originally appeared on Milwaukee Journal Sentinel: Milwaukee Bucks fire head coach Mike Budenholzer after 5 seasons