AC Milan icon Rino Gattuso was sacked by Palermo on Wedensday after just six competitive games in charge.
The 2006 Italy World Cup winner was shown the door following Tuesday's 2-1 defeat at Bari, Palermo's second straight loss in Serie B.
Under Gattuso, Palermo have won just two of their opening six games, not enough to impress Palermo president Maurizio Zamparini, who has opted to make a coaching change.
Gattuso watches on during defeat at Bari
A statement from the club read: "It is with true and profound sadness that I announce the dismissal of Gennaro Gattuso as coach of the first team.
"The results have forced us to take this decision.
Giuseppe Iacchini has been installed as Gattuso's replacement at the Serie B club. Palermo were relegated to the second tier last season.
Coaching for the first time in his career, Gattuso joined the Sicilian giants this summer after a spell as a Sion player-coach last term.
He becomes the 20th manager to be sacked by Zamparini since the Italian businessman bought Palermo 11 years ago.