Peterborough have named Darren Ferguson as player-manager, replacing Keith Alexander, who was sacked earlier in January after six straight defeats.
Ferguson also played for Manchester United and Wolves
The 34-year-old former Wrexham player, the son of Sir Alex Ferguson, will have Kevin Russell as his assistant with Tommy Taylor as first-team coach.
"His experience at this level is a huge asset in our attempt to get promoted," said director of football Barry Fry.
Ferguson made more than 300 appearances for Wrexham after joining in 1999.
Posh chairman Darragh MacAnthony said the board had thought long and hard before making the appointment.
"We spent nearly a whole day interviewing Darren and feel he is the man to take our club to the next level," he told the club website.
"I feel we have hired an ambitious young manager who shares our vision as to where the club is going and where it needs to be."
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