Phil Gould is set to negotiate his departure from Penrith Panthers, the NRL outfit have confirmed.

General manager Gould, who previously played for and coached the Panthers, has informed Penrith that he no longer feels needed at the club.

Panthers chief executive Brian Fletcher announced that terms would be discussed in a meeting on Wednesday, adding praise for Gould's work with Penrith.

"This morning, Panthers chairman Dave O'Neill and myself met with Phil Gould to discuss his position at the club," Fletcher said in a statement on Tuesday.

"Phil was adamant that his position as executive general manager rugby league has become redundant and his time at Panthers is at an end.

"While there will be opportunity for further reflection once matters are formalised, I wish to acknowledge the extraordinary impact Phil has had on this club since returning as executive general manager in 2011.

"The Panthers board will meet tomorrow to discuss the potential terms of Gould's departure from Panthers."

The Panthers are 12th in the NRL ladder after six games of the 2019 season.