Federer splits with coach Paul Annacone

The Swiss has slipped to seventh in the world - his lowest ranking for over a decade - and saw his hopes of reaching next month's end-of-season ATP World Tour Finals in London dented on Thursday by his third-round exit from the Shanghai Masters at the hands of Gael Monfils.

Roger Federer and Paul Annacone

"After a terrific three and a half years working together, Paul and I have decided to move on to the next chapter in our professional lives," he said in a statement on his website.

"When we started together we had a vision of a three-year plan to win another Grand Slam title and get back to the No 1 ranking. Along with many other goals and great memories, these two main goals were achieved."

Federer joined forces with Annacone, the former coach of 14-time major singles winner Pete Sampras, in summer 2010, and has since won 13 titles.

However, the 17-time Grand Slam singles champion has claimed only one trophy this season and felt the time was right for himself and Annacone to go their separate ways.