Palermo president Maurizio Zamparini insists he's not about to leave the club.

Speculation has been rife after Zamparini hired Pietro Lo Monaco in place for Gian Piero Gasperini as new sports director.

Zamparini told the club's official website: "I receive daily communications from Palermo fans who are convinced that the arrival of Lo Monaco is a prelude to my departure. That is absolutely false.

"I chose to hire a consummate professional like Lo Monaco and a coach of the highest order like Gasperini to give depth and continuity to the management structure of Palermo.

"I have also offered Lo Monaco the opportunity to acquire 10 per cent of the shares of the company so he can be even more involved in the project.

"I am convinced that my passion and expertise, combined with the experience and professionalism of Lo Monaco, will allow us to grow and achieve success.

"I'm just sorry that after 10 years the Palermo fans don't know who the president is."