New Zealand coach Graham Henry is to pay with his job following the All Blacks' shock World Cup exit at the hands of France.

The overwhelming tournament favourites were ousted 20-18 by the French in Cardiff last night to continue what will now be at least a 24-year wait for the title.

And as the inquest began in earnest today, New Zealand Rugby Union chairman Jock Hobbs said: "We'll have a new All Blacks coach in place by Christmas."

Henry, formerly Wales head coach, took over following the Kiwis' last World Cup failure in Australia four years ago.

He helped to create a team widely regarded as the world's best for most his time in charge but like his predecessors Henry failed when it mattered most.

Hobbs has also revealed that an inquiry will take place to mull over a fifth consecutive trophy-less tournament.