Ferrara, also fired by Juventus after a short spell in 2009/10, has paid the price following the 3-1 defeat at Catania on Sunday which left the Genoa side in 14th place.
"With sadness given the human bonds that have developed, Ciro Ferrara has been relieved of his position," a club statement said.
Much-travelled Rossi, whose best spell as a coach came with Lazio in 2009 when they won the Italian Cup, was last at Fiorentina but left in May after punching his own player Adem Ljajic in the dugout. (Editing by Mark Meadows; Editing by John Mehaffey)
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- Ciro Ferrara