Roma have confirmed they have accepted the resignation of Claudio Ranieri as the club's coach. Ranieri offered to stand down last night after his side surrendered a 3-0 lead to lose 4-3 at Genoa – their fourth straight defeat in all competitions.

Vincenzo Montella, the former Italy striker who scored more than 100 goals for Roma during his playing career, has been promoted from his role as youth-team coach to take charge until the end of the season.

The team trained without Ranieri this morning, the coach turning up at the Trigoria training ground to meet club officials and players before leaving 50 minutes later. The club then issued a statement confirming they had parted company with the 59-year-old.

Roma said in a statement: "AS Roma announces it received yesterday evening the resignation of Claudio Ranieri as coach of the first team.

"Following this move, the financial contract with Ranieri, whose deal was coming to an end on 30 June 2011, has ended by mutual consent. Roma wishes to thank Claudio Ranieri for the professionalism shown and the work done [during his time at the club]."

Ranieri enjoyed a successful first season with Roma after replacing Luciano Spalletti in September 2009.

The club had endured an horrendous start to the campaign and Ranieri, who had been fired by Juventus months earlier, rescued the team and nearly led them to the scudetto. Roma ultimately finished runners-up in both Serie A and the Coppa Italia to Internazionale.