New Zealand coach Graham Henry will be replaced by the end of the year after the All Blacks were knocked out of the World Cup by France on Saturday.

"We will have a new All Blacks coach in place by Christmas," New Zealand Rugby Football Union chairman Jock Hobbs told a news conference on Sunday.

Hobbs said an independent inquiry would be set up to investigate New Zealand's failure to advance past the quarter-finals for the first time.

New Zealand, who lost 20-18 to France at the Millennium Stadium, have not won the World Cup since the inaugural 1987 tournament.

The contracts of Henry and his assistants Wayne Smith and Steve Hansen expire in March next year.

"Like the All Blacks team, the management and fans here, at home and around the world, we are hugely disappointed with the result," Hobbs said.

"We believe as an organisation we gave this campaign our very best shot with the aim of winning the World Cup. Clearly we came up short.

"I take full responsibility as chairman for this campaign. I am accountable, but I don't want to make a knee-jerk reaction when emotions are intense.

"I'm going to reflect on it. If I feel it's appropriate to stand down then I will.

"We felt we were very careful, committed and considered throughout this campaign but we want it reviewed.

"The planning and the preparation was all that we expected it to be. Everything possible had been done but we weren't good enough. We are hugely disappointed and devastated by yesterday's result."

Reuters