Eugenio Corini has left Chievo by mutual consent after just over seven months in charge of the club.
Corini joined the Serie A outfit as head coach in October, replacing Domenico Di Carlo after the Flying Donkeys lost five of their opening six league games.
The former Chievo midfielder soon turned the side's fortunes around, guiding them to a 12th-place finish and a haul of 45 points.
However, the Gialloblu announced on Wednesday that Corini will not get a chance to build on his achievements in Verona next term.
A statement published on chievoverona.it read: "After reaching the set goal of booking the club a 12th season in Serie A, Chievo and coach Eugenio Corini have mutually agreed not to renew their working relationship for the 2013-14 season.
"President [Luca] Campedelli and everybody at the club thank Corini and his staff for their commitment, professionalism and constant dedication and wish them all the best for a successful future in football.''
Corini has been heavily linked with the Palermo job, having spent four seasons at the Stadio Renzo Barbera as a player.
The Sicilian club are expected to sack coach Giuseppe Sannino following their relegation to Serie B.
Information from the Press Association was used in this report