Ferguson was re-appointed as manager at the end of the season.
The run of one win in seven league games was the reason behind the departure of the two men.
The return of Ferguson will only happen at the end of the campaign, according to one of the owners.
"When you look for a manager in January, it is a very difficult time, an impossible time to get someone in, so if you were to write down what you would want in a manager, someone who identifies with how you work as a football club, someone who has had multiple promotions on their CV, someone with a style of football that gets people off their seats, where would you find a manager like that?" Neale told the club website.
We have a nearby person who will come and help us until the end of the season.
The best way for him to work with the squad is to come in and work with us.
Ferguson left for the first time with the club bottom of the Championship after leading them to back-to-back promotions.
He returned 14 months later, in January 2011 after being sacked by Preston, and led the team to victory in the League One play-off final, only to leave after a poor start to the season.
Ferguson left for a third time at London Road, taking the club back into the Championship before quitting in February of last year.
It was the wrong decision for him to leave for the Championship was a challenge for the club.
He has been promoted five times in his career and we are happy that he will return. We go on as usual.
The Weston Homes Stadium has had two different managers in the past, the first one being former Posh player and now Weston Homes Stadium boss.
He was initially sacked 21 months into his first stint as manager, but returned to his old job after leading Hull to promotion.
Even though he couldn't prevent the team from being demoted to the Championship, he stayed in his job and led the team to four wins in their first five games.
After four straight defeats in August and September, the team bounced back with six wins and a draw from eight matches.
The board decided to part company after five defeats from seven league games, the last of which was a loss at the weekend.
Mac Anthony said that it just hasn't worked out. "With the squad that we have, at the beginning of January, where we are in the league table is not where we expected and we feel if we are going to give ourselves a chance of a promotion run, now is the time."
After watching us lose at home on New Year's Day, what kind of run we have been on, one win in 10 weeks and that is just not going to cut it. The high expectations will continue.
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