From Rotoworld w/ Rotoworld comments:

The Bucks have fired Larry Drew from his head coaching position.

The writing was on the wall with the trade for the coaching rights to Jason Kidd. Drew was absolutely horrible with the Bucks last season, leading the team to the worst record in the NBA. Brandon Knight was really the only offseason pickup to work out for the Bucks while guys like Ersan Ilyasova, O.J. Mayo and Larry Sanders were abysmal signings. Drew will likely catch on as an assistant elsewhere.

Source: Brian Windhorst on Twitter