There has also been speculation that Ancelotti had fallen out with some of his players, particularly Franck Ribery, who was one of those left on the bench on Wednesday.
Hoffenheim manager Julian Nagelsmann is the odds on favourite to replace him, while Willy Sagnol and former Dortmund manager Thomas Tuchel are short priced with bookmakers. After six games they are in third place in the table - six points behind leaders Dortmund.
He believes "social competence" is more important than tactics in football and if asked for his biggest influences he'll rhyme of handball and hockey coaches and how Volkswagen run their factories and treat their staff. Having started his managerial career with Academica he was tempted away from Porto by Chelsea in 2011.
"I thought a lot to try to put out the best line-up", Ancelotti told Sky Germany.
Neymar made amends a few minutes later after Alves led another charge and found Mbappe down the right.
"Our team's performances since the start of the season have not met our expectations", Rummenigge said in a club statement.
"I now expect the team to have a positive development and absolute determination, so we can reach our goals for this season".
"But after, when I walked towards the goal to take the penalty, I knew we had won".
The German giants brought in the likes of James Rodriguez, Corentin Tolisso and Nicklas Sule in the summer to boost their hopes of enjoying success in Europe's top club competition, but the start of the new season has not gone well for Ancelotti and his team.
Bayern announced the resignation titled Italian specialist Carlo Ancelotti.
The German team confirmed on its Facebook account that Carlo Ancelotti won't be coaching the team anymore.