"I would like to thank Milwaukee Bucks fans, ownership, staff and most of all the players for the last four years," he wrote. "It has been an honor and a pleasure to be your head coach. The future is bright for Milwaukee."
Kidd was jettisoned following a 23-22 start to the season and a run from January 12-20 that included four losses in five games. All told, he went 139-152 over three-and-a-half years in Milwaukee.
"We just felt that we got to a point in the season where this team could do more and could perform at a different level in a different way, and (we are) looking for a fresh approach and different voice in leadership for the team," general manager Jon Horst said, according to the Associated Press' Genaro C. Armas.
Joe Prunty, who was an assistant coach on Kidd's staff, was named the Bucks' interim head coach for the remainder of the regular season.
Prunty's first game at the helm came Monday, when the Bucks narrowly defeated the Phoenix Suns 109-105.
Milwaukee will aim for back-to-back wins Friday when the Brooklyn Nets come to town for a battle of clubs previously coached by Kidd.