The former AFC Ajax coach has been replaced by former 1.FC Köln coach Peter Stöger, who led the Billy Goats to a fifth-place finish in the 2016-17 season. However, he failed to replicate the same this season and was sacked by the club just over a week ago.
Now his aim will be to steady a Dortmund ship that seems to be going nowhere and take the club back to where it belongs, amongst the elite of German football.
Stöger and his assistants have been given a contract until next summer, 30 June 2018.
Watzke thanks Bosz for his work at Dortmund
At the same press conference where Stöger was revealed as the new Dortmund head coach, Hans Joachim-Watzke, CEO of Dortmund explained how the decision to sack Bosz was made after having dinner with the Dutch boss.
He spoke about the decision as being "emotional", however, he also thanked Bosz for his services on behalf of everyone at the club.
Under Bosz, Dortmund became the most dangerous team in the final third and are level with Bayern Munich in terms of goal scored. However, their problems at the back and also in all departments of the pitch surfaced in recent weeks, which led to Bosz's sacking.
Watzke also added that Stöger's aim with the club for now is to get some points up on the board, and only then can transfer targets for January will be discussed.
Michael Zorc praises Stöger's work at Köln
Dortmund sporting director Michael Zorc spoke about Stöger's work at Köln and praised the Austrian's for guiding the club to success in his four years there.
Stöger spoke of his delight at being the manager of Dortmund, he further praised the stature of the club as well as his delight at being the coach at the Signal Iduna Park.
Despite the short contract that he has been given, Stöger is "perfectly okay" to show what he can do with the team until the summer. He further said that this job is a "compelling" one for him and his staff.
He expressed his excitement at becoming the Dortmund coach and hailed it is a "once-in-a-lifetime" opportunity, also hailing the "incredible" fans and the stadium.
Stöger's first order of business will be to prepare the team for the upcoming league game against 1. FSV Mainz 05, away from home.