This comes after the club’s Class of 92 owners sacked manager Graham Alexander.
A statement released on Monday confirmed the former Manchester United midfielder’s appointment.
“Paul Scholes will act as the interim head coach while the club looks to secure a new manager,” the club’s statement reads.
Paul Scholes part of the club’s owners
Paul Scholes, 45, was part of the consortium to buy 50 per cent of the minnows back in 2014.
The Class of 92 venture, including David Beckham, Gary Neville, Ryan Giggs, Nicky Butt and Phil Neville.
Their funding quickly elevated City to League Two, where they sit fifth on the table.
Phil Neville’s only serious venture into management came last year in a seven-game stint at Oldham.
Fans of ambitious Salford were surprised to see Alexander, 49, sacked after an unbeaten start to the league season.
Club’s statement confirms Paul Scholes’ appointment
“Salford City Football Club announces that manager Graham Alexander has left the club with immediate effect.”
The club met with Graham this morning and after discussion have agreed to part company.”
“The club would like to thank Graham for his contribution and all his hard work.”
“In his first season he guided the team to Wembley, resulting in promotion to League Two.”
“In his second season he reached the Leasing.com Trophy final.”
“The club would like to wish him all the best and success in the future. First team coach, Chris Lucketti, will also leave the club.”
“Paul Scholes will act as the interim head coach while the club looks to secure a new manager.”
“Warren Joyce, currently in isolation, will join Paul once he is able to.”
According to the Mail, Scholes was reluctant to take over this role.