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The 41-year-old has signed a two-year contract with the Kirkcaldy club just a week after his Airdrie side lost to Queen’s Park in the Championship play-off final.
Ian Murray has been appointed the new manager of Raith Rovers after narrowly missing out on promotion with Airdrie.
There may have been an element of karma about Peter Grant helping Queen's Park to relegate the Dunfermline side who sacked his father earlier in the season.
Dunfermline Athletic have placed their entire football department under review following the club's relegation to League One.
Former Hibs striker Tam McManus expects to see Scott Brown in a managerial job by the start of next season.
A season that started with Dunfermline among the Championship title favourites ended with the club being relegated on Saturday after a 1-0 defeat to Queen's Park in the play-off semi-final.
John Hughes wants to remain Dunfermline manager despite suffering relegation from the Championship after a 1-0 defeat to Queen's Park in the Championship play-off semi-final second leg.
Bonnyrigg Rose will attempt to be the fourth beneficiaries of the SPFL pyramid play-off when they kick-off their final first-leg against Cowdenbeath on Saturday.