Ranieri will leave this summer, the veteran coach confirmed last week.
“From our very first meeting, we always respected Ranieri's choices and requests, so we accept this decision too," Ferrero told La Gazzetta dello Sport.
“It was not entirely a surprise, these situations are part of negotiations in football when a contract is running down, so you have to be prepared for any outcome.
“It's disappointing, but the reciprocal respect we have must never be doubted. I thank Ranieri and his staff for the great work that was performed with dedication and passion in the last two seasons and wish him the best for the future.
“Now my only focus must be on opening up a new cycle at Sampdoria with a new coach."
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