"There have been philosophical differences and we've agreed it's a good time for me to move on," Nolan said in a statement released by the team. "I want to thank the Islanders organization for giving me a chance to coach in the NHL again. I have tremendous respect for what the team is trying to do and I wish them well."
The team scheduled an afternoon news conference.
Nolan's only other NHL coaching job was with Buffalo from 1995-97. Snow said he has a list of "several qualified candidates" to replace Nolan.
"After a thorough process, we will hire the very best coach," Snow said.
Snow praised Nolan for "some success" during the last two seasons.
"However, it has become clear that we have philosophical differences and have decided together to part ways," Snow said.
"Since last season and continuing into the summer, I have realized we do not share the same philosophies. I would like to thank Ted for his two years with the team and wish him the best."
