"Rolland Courbis is to join the club on Monday," Montpellier said on their website (www.mhscfoot.com).
Fernandez quit on Thursday after a 2-0 home defeat by Lorient a day earlier left the club fourth from bottom in Ligue 1.
Former Montpellier player and assistant coach Pascal Baills had been named coach on a caretaker basis.
Courbis, a Montpellier coach from 2007-09, also had spells at Olympique Marseille, Girondins Bordeaux, RC Lens and AC Ajaccio.
The 60-year-old was sentenced to two years in prison in 2007 for his role in financial irregularities relating to transfer deals at Olympique Marseille. He spent seven months behind bars.
(Reporting by Julien Pretot. Editing by Patrick Johnston)
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