CSKA Sofia has dismissed coach Lubo Penev despite a 4-2 win in its opening league match of the season against CSKA 1948, Bulgaria's most successful club said on Monday.

Adored by CSKA fans, former striker Penev won two league titles and four Bulgarian Cups with the club as a player, scoring 88 goals in 123 matches. He led the 31-times Bulgarian champions to the domestic Cup last season.

"The activities, connected with a number of managerial posts which were closed, will be outsourced by a leading German company," CSKA said in a statement.

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Three days before its Europa Conference League second-leg match against Latvia's Liepaja, CSKA announced a complete change of the club management, also dismissing chief executive Plamen Markov and general manager Stoycho Stoilov.

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CSKA said that Stoycho Mladenov, who led The Reds to the title during his previous stints with the club in 2003 and 2008, would replace former Atletico Madrid and Valencia striker Penev.

Mladenov, another crowd favourite, is known as "Liverpool's Executioner" in the Balkan country after his two goals helped CSKA to get a 2-0 win over the Premier League club in the 1982 European Cup quarterfinals.