Toronto Mayor Rob Ford said he's frustrated by the decision to oust Eugene Jones from the position of Toronto Community Housing Corporation CEO.

The decision was made at a closed-door TCHC board meeting follows a scathing report from city Ombudsman Fiona Crean that found management had ignored rules about hiring and firing staff in the last year.

Toronto Mayor Rob Ford said he was "frustrated" by the report and the subsequent decision to drop Jones, and likened the situation to a sports team getting rid of a player because one fan complained.

"Things are going great at Toronto Community Housing. It's a biased political report. Things are going great, things are going better than they ever have," Ford told reporters on Friday.

Minutes after the decision was announced, Ford told media he would fight for Jones' job. "Let's just get to the election and I'm going to do everything in my power to get him back."

Mayoral candidate Olivia Chow also looked at the TCHC decision as an election issue. In a statement, Chow said the opportunity for new leadership was welcome.

"Similarly, I also hope our city changes its leadership. Because whether it's the mayor or head of TCHC, rules aren't annoyances and accountability counts."

Jones joined Canada's largest provider of social housing in June 2012, after a nearly 30-year career in public housing administration in the U.S.

According to Crean’s 111-page report, 96 new staff members were hired in the period between June 2012 and October 2013. However, there was no record of competition held for approximately 20 per cent of the external hires, and some were hired without job postings.

There were also 76 promotions, but TCHC could only confirm 36 of the jobs were actually posted, despite the government agency's policy. The report claimed that some of the employees were hired and promoted to positions for which no job description existed.

The report said that TCHC has a comprehensive set of human resources policies designed to encourage a "fair, equitable, open and transparent process," however the report found many conflicts of interest that were undeclared.

It also listed changes made to employment contracts without notice or approval, and 41 terminations without cause.

In a statement, TCHC Chair Bud Purves said that the report led to Jones' termination.

"After much deliberation, the Board and Gene have mutually decided that a change in leadership will best position Toronto Community Housing to move forward in implementing its strategic plan. Today will be Gene’s last day as President and Chief Executive Officer. On behalf of the Board, I would like to thank Gene for his contributions to Toronto Community Housing, our residents and to the City of Toronto," Purves said.

According to the statement, Jones will receive a $200,000 settlement for what Purves said was a "mutual decision."

In the meantime, current Vice President and Chief Development Officer Greg Spearn will take over in Jones' absence as interim president and CEO.