The only link I can find as of right now is to a story labeled "press release" at RealGM but Billy Knight is resigning effective July 1st when his current contract ends. Whether he was asked to resign or is clever enough to realize his option was unlikely to be picked up by the owners who wouldn't let him fire the incompetent coach he once hired is anyone's guess. I think we should all be grateful that someone made a quick decision. This should (could?) accelerate the pace of installing a new management team who can, in turn, hire a new coach.
I'm still assuming that re-signing Joshes Smith and Childress is a foregone conclusion regardless of who is in charge.
UPDATE: Braves & Birds has beaten me to the punch in assessing the best and worst moves of Billy Knight's tenure. I'd only the following footnotes of my own to Michael's post: 1) Knight deserves credit for drafting Josh Childress as well. Picking Smith and Childress in the 2004 draft was terribly valuable. 2) On the flip side, turning the 5th and 33rd picks of the 2006 draft into Shelden Williams and Solomon Jones was about the worst possible use of resources. 2b) If they didn't take Brandon Roy because they already had Joe Johnson then I think that the Joe Johnson deal (about which I'm more ambivalent than almost everyone else to begin with) becomes a rather mixed blessing. 3) The damage done in drafting Marvin Williams cannot be overstated. Any other decision: drafting Chris Paul, drafting Deron Williams, trading down and getting a second first-round pick, hell, drafting Raymond Felton, would have been better for the franchise.