The club have failed to move among the pace setters in their first season in the Combined Counties Premier South, and Millard – who joined the club in the summer – has now paid the price.
Town lost to bottom of the table Banstead Athletic on Saturday, after which a meeting of the Farnham Town Management Committee as convened.
The club said: “We have, with great regret, taken the decision to remove both the first-team manager Colin Millard and his assistant manager Andy Sharratt from their roles at the club.”
Chairman Paul Tanner said the committee had wanted to give Millard ‘every opportunity’ to turn around a league campaign that has been beset by injuries and other issues that have restricted player availability – but that ‘the disappointing nature of recent on-field performances and results had left them no choice’.
A club statement read: “Colin has been steadfast in his determination to improve the team. However, in the light of recent results, and after careful consideration, the Management Committee have come to the decision a change is now necessary.
“We wish Colin the very best of luck in his future endeavours.”
Town are next in action on Wednesday evening, when they travel to Sutton Common Rovers in the first round of the Specsavers Surrey Senior Cup.
Although the club do not expect a new manager to be in place for that, they hope to make an announcement before Saturday’s league match at home to Molesey.