"Alberto Gilardino is the new head coach of Parma Calcio 1913. (He) has signed a contract until the end of the 2026/27 sporting season, with the club holding an option to extend for a further two seasons," the Emilia-Romagna outfit announced in a statement on their website Tuesday.
Gilardino had been out of work since his dismissal by Pisa in January of this year, having recorded one win, 11 draws and 11 defeats in Serie A.
The 2006 World Cup winner, who scored 17 goals in 57 caps for Italy, is already familiar with Parma, having spent three seasons there as a player between 2002 and 2005.
His managerial career has not yet reached the heights of his playing days, with the closest exception being his spell at Genoa, who he led back to the top flight in 2023 and then brilliantly kept in Serie A at the end of the 2023/24 season, before being sacked that autumn.
Gilardino, 44, succeeds Spaniard Cuesta - Mikel Arteta's former assistant at Arsenal - who was relieved of his duties last week after 14 months in charge.
At 31, the Spaniard was the youngest active coach in Europe's top five leagues.
In his first season in charge of Parma, he guided them to 13th place. However, his team lost three of their first five matches this season and were knocked out in the round of 32 of the Coppa Italia by second-division Cremonese.
Cuesta was the third Serie A coach to be sacked since mid-August, following Fabio Grosso at Fiorentina and Domenico Tedesco at Bologna.
Gilardino's first match in charge will be away to champions Inter Milan on October 10th.