"We're very delighted we've secured the services of Niko Kovač as new FC Bayern head coach", said sporting director Hasan Salihamidžić.
The 46-year-old Croatian will start a three-year contract from July 1, the club announced just minutes before Friday's Champions League semi-final draw which left the Bundesliga champions pitted against holders Real Madrid.
Kovac won't take the reigns at the Allianz Arena until the end of the season, with Heynckes to remain in charge for Bayern's mouth-watering Champions League semi-final with Real Madrid.
Kovac who is a former Croatia worldwide played 34 Bundesliga matches for Bayern from 2001 to 2003, scoring three goals.
The Bayern coach said it is not only a challenge for Bayern but Real as well. Aged 18 years, 307 days, Havertz set up two goals. "Therefore he is predestined to coach at Bayern", said Heynckes.
"It was a surprise for us in this phase", Bobic said.
Bayern did not reveal the cost of poaching Kovac, but both Bild and Sport Bild claimed that his departure before the end of his Frankfurt contract in 2019 would cost Bayern 2.2 million euros (S$3.6 million). That's why this point in time is not a very fortunate one for us.
Both teams have played 24 matches against each other and Los Blancos have a superior result with nine wins, a draw, and two losses.
"Liverpool have made a statement similar to ours by knocking out the team I thought might be the favorites to win it all, Manchester City", Roma's veteran captain Daniele de Rossi told the team's Facebook page. Kovac, who won 83 caps for Croatia but was born in Berlin, has been in charge of Eintracht Frankfurt since 2016.
Thomas Tuchel was reportedly in the running for the vacancy only for Bayern CEO Karl-Heinz Rummenigge to confirm the former Borussia Dortmund coach - strongly linked with Paris Saint-Germain - has agreed to move elsewhere.
Wagner, the back-up at Bayern for star striker Robert Lewandowski who was on the bench, has scored seven goals in his last eight games.
The Champions League's final four includes three traditional heavyweights and a team that has never lifted the fable trophy before in AS Roma. In the current campaign, he has guided them to fifth place in the Bundesliga and to the last four of the cup.