The club has already fired two coaches, sacked the administrative staff and parted company with all of its sponsors since businessman Chagaev took over in May.
"Rodrigo Galatto is no longer part of the group," team manager Sony Anderson told Le Matin newspaper.
"Against FC Basel on Sunday, [Jean-Francois] Bedenik will be our number one."
Possibly unfamiliar with Neuchatel's artificial pitch, he endured a nightmare debut in the Swiss League at the weekend as they lost 3-0 at home to FC Lucerne.
The Banque Cantonale Neuchateloise was one of the sponsors to part company with Neuchatel, saying in statement: "The arrival of new directors has installed a climate of uncertainty and a lot of recent decisions do not correspond to the ethics, values and image which BCN stands for."
Galatto became famous in his native Brazil for his performance in the so-called "Battle of the Afflicted" six years ago when he helped Gremio win a second division promotion playoff 1-0 at Nautico despite having four players sent off.
