Miguel Angel Brindisi agreed to take over at Huracan, after Hector Rivoira quit on Monday, having helped them win their only league title as a player before becoming coach from 2001-2003.
"Miguel will calm the waters," Huracan president Carlos Babington told reporters. "With him as coach and me as president let's hope we can bring back the good times."
Former Argentina team mates Brindisi and Babington were midfield partners in Huracan's greatest side that won the title under Cesar Luis Menotti in 1973.
Another ex-Argentina player, Antonio Mohamed, resigned at Colon after just one win in their last 13 matches, including six games without a victory at the end of last season, amid constant demand for quick results in a short, 19-match championship.
Independiente said on Monday that coach Daniel Garnero was leaving by mutual consent but a change was imperative with the team bottom of the Apertura championship standings.
The die was cast for Garnero after Sunday's 4-0 loss at Banfiel, with his only win in their last nine matches against Argentinos Juniors in a first-round, first-leg Copa Sudamericana tie - the region's equaivalent of the Europa League.
Menotti also resigned as Independiente's general manager. He had recommended the appointment of Garnero after the club opted against retaining last season's coach Americo Gallego.
Media reports said Independiente president Julio Comparada was keen to bring back Gallego, having taken the decision to dispense with him even though he narrowly missed out on the Clausura championship title with the club in May.
Colon, who lost 3-1 at Boca Juniors on Sunday, are 15th in the 20-team standings with six points while Huracan are 14th with eight points after a 3-0 loss at Gimnasia on Friday.
The Argentine campaign, which runs from August to June, is divided into two championships - Apertura (opening) in the second part of the year and Clausura (closing) in the first part of the next year. There is no overall champion in a season.
