Giampiero Ventura has left his position at Torino amid reports he will replace Antonio Conte as Italy coach after Euro 2016, while Sinisa Mihajlovic has taken over at Stadio Olimpico.
Ventura is considered to be the frontrunner to take charge of the national team following the European Championship in France, with Conte departing for Chelsea.
"President Urbano Cairo wishes to thank Giampiero Ventura for the great work done together and for the excellent results obtained in this rich experience of mutual satisfaction," Torino said in a statement.
"The ascent continues, enriched by the unforgettable pages to the recent history of Turin: the seventh place in Serie A, the qualification to Europe after 20 years and the first victory of an Italian team in Bilbao.
"It has been five wonderful years. Torino hope for the fortune Giampiero Ventura deserves in the continuation of his career."
"I want to thank president Cairo and all of Torino for the trust placed in me," Mihajlovic said in a statement.
"Being able to work in a club with as glorious a history as Torino is a source of great pride for me."
