(CNN) -- John Terry has been stripped of the England team captaincy with immediate effect following a meeting with national coach Fabio Capello.
Chelsea defender Terry had been the subject of close scrutiny over the past week after revelations about his personal life began to emerge, notably an alleged affair with the former partner of England teammate Wayne Bridge.
Newspaper allegations were made public after the British High Court overturned a "Super Injunction" lodged by the 29-year-old's lawyers stopping the stories from being reported on.
In a statement issued on the official English Football Association Web site, Capello said: "After much thought I have made the decision that it will be best for me to take the captaincy away from John Terry.
"As captain of the England national team, John Terry has displayed extremely positive behavior. However, I have to take into account other considerations and what is best for all of the England squad.
"What is best for all of the England team has inspired my choice and I notified John Terry first.
"I would like to take this opportunity to thank the Football Association, particularly Lord David Triesman and Ian Watmore for allowing me to make this decision in my own time and in the best interest of the team."
Capello also confirmed in his statement that vice-captain Rio Ferdinand will take over from Terry as skipper, with Liverpool's Steven Gerrard acting as his deputy.
Manchester United defender Ferdinand has been beset with injury problems this season but, assuming he is fit, his first game as permanent England captain will be against Egypt on March 3.
Terry later issued his own statement saying: "I fully respect Fabio Capello's decision. I will continue to give everything for England."
Italian Capello, who has always been known as a strict disciplinarian, only returned to Britain on Thursday after knee replacement surgery in Switzerland and immediately summoned Terry to a meeting at Wembley Stadium, which lasted only 12 minutes.
Capello is due to travel to Poland this weekend to attend the qualifying draw for the 2012 European Championships.