Vincenzo Montella says it was an honour to coach AC Milan and hopes his successor Gennaro Gattuso can improve the team's fortunes.
Montella was sacked on Monday and replaced with Primavera boss Gattuso following a terrible start to the Serie A campaign.
Backed by new Chinese ownership, Milan spent big in the off-season, signing Leonardo Bonucci and Andre Silva as part of a major overhaul of the playing squad.
Montella has not been able to get the best out of his expensively assembled group, with the Rossoneri sitting seventh in the table, already 11 points outside the Champions League qualification places.
And the patience of the hierarchy has now run out, leaving the former Fiorentina and Sampdoria coach to wish his successor well.
"Coaching Milan was an honour, working with this group even more so," he said.
"I thank the fans for their support, [managing director Marco] Fassone and [sporting director Massimiliano] Mirabelli for this opportunity and my staff for supporting me throughout.
"I hope Rino [Gattuso] takes Milan back where they belong."