Interim manager John McGreal says he would never turn his back on Town, the club having been good to him over the years.
The 49-year-old, who was a member of George Burley’s side which won the play-off final in 2000 to reach the Premier League and finished fifth in the top flight to qualify for the UEFA Cup the following season, joined the club as an U23s coach last Thursday and two days later found himself being asked to take charge of the first team following the sacking of his one-time Tranmere team-mate Paul Cook.
McGreal will be assisted by Rene Gilmartin, who was his deputy during his brief stint as Swindon manager in the summer, U23s coach Kieron Dyer and academy head of goalkeeping Carl Pentney.
"I had to digest the news on Saturday evening," McGreal told iFollow Ipswich.
"I was shocked and the last couple of days have gone very quickly. The club needs me to help and I would never turn my back on the club given how good it has been to me over the years.
"It's my club and I want it to do well. I'd like to do well during the interim period, however long that is, and get us through to the third round of the FA Cup before leaving the team in the capable hands of the new manager.
"I've known Pents [Carl Pentney] from when he was at Colchester and I have touched base with him. I've worked with Rene before and I have known Kieron a long time. The club needs help and we are all going to try and help us get some wins.
"The situation is what it is and we have to move forward. We have a huge game tomorrow night and we have switched our focus to that straight away.
"I've had one training session with the group and it was enjoyable. We were out on the grass for an hour or so and I was able to put some names to faces. We got a good amount of work in and this is a good group of players.
"Our players are professionals and they are playing for Ipswich Town so there is a pressure on them and they might feel that. They need to release the shackles, though, and give it a right go. It's the least our supporters demand and deserve - you have to work hard for the badge.”