Peterborough have confirmed former Stockport and Motherwell boss Jim Gannon as their new manager.
Gannon replaces Mark Cooper, who was sacked on Monday just two months after replacing Darren Ferguson in the London Road hotseat.
He told the club's official website: "It is a fantastic opportunity and I am excited."
Saturday's 2-0 defeat at cash-strapped Crystal Palace left Peterborough rooted to the foot of the Championship with just 18 points from 28 games, but Gannon is confident he can turn things round, pointing to his time at Edgeley Park as evidence that all is not lost.
"At Stockport, when I went there they were seven points adrift and we stayed up, so it can be done," the 41-year-old continued.
"Statistically, it looks a difficult task, but the main aim is to get three points on Saturday (against QPR), try and make a difference and bring back some positive football.
"I am sure the fans have been dispirited by some of the results of late, I think what everyone wants to see is players playing their football in the right way and showing their true colours.
"Once they do that, I am sure the fans will enjoy their football and it can be a more enjoyable end to the season. I have spoken to two or three of the players already and they know what I want to try and achieve."
Cooper, 41, was the surprise choice to replace Darren Ferguson in November when he was recruited from Blue Square Premier side Kettering but won just one game in charge as he failed to lift Posh clear of the relegation zone in the Coca-Cola Championship.
An earlier club statement read: "Peterborough United and Mark Cooper are parting company with immediate effect following the termination of his contract. The club would like to thank Mark for his professional and dedicated service during his time at London Road and wish him all the best for the future."
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