The club had held negotiations with the interim manager over the last few days with regards to transfer strategy.
"After having reached the agreed objective of 12th spot in Serie A, Chievo and Eugenio Corini have decided together to not renew their contract for 2013/14," a club statement read.
There are already reports Corini has another job lined up, as he could take over at his former club Palermo in Serie B.
This would in turn free up current Rosanero boss Giuseppe Sannino to accept the post at Genoa.
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