Somerset appoint Maynard as head coach
Maynard's appointment represents his first full-time return to the mainstream of English cricket since the tragic death of his son, Tom, in an accident on the London tube network in 2012.
He replaces Dave Nosworthy, who left Somerset at the end of the season after two unproductive years in which he failed to win West Country hearts.
For Giles, who was replaced as England coach during the post-Ashes shake-up, and an abortive campaign in World Twenty20 in Bangladesh, the Somerset decision is a personal blow as he struggles to make the transition back into county cricket.
Somerset's decision may be Lancashire's gain. They have a head coach's role to fill after delaying the decision following the departure of Peter Moores to become England head coach and being relegated in the County Championship. Giles will surely be regarded as a frontrunner.
Giles has also undertaken media work this summer - including some for ESPNcricinfo - as he decides where his future aspirations lie.
Maynard came with a strong personal reference from Andy Flower, the former England team director, who shared coaching roles with Giles for a time until he was also replaced after the Ashes whitewash.
"It will be a new challenge for me and one that I am looking forward to very much," Maynard said. "I'm very excited about being involved with such a talented group of players and I can't wait to get started."
Chief executive Guy Lavender said: "We are delighted that Matt has been appointed as our director of cricket and he will have direct responsibility for coaching the 1st XI. His track record speaks for itself and he has a wealth of leadership experience, coaching knowledge and passion for the game.
"I have every confidence that he will build on our strong foundations and the winter period provides a great opportunity for him to prepare the squad for a successful 2015. I know he will receive a very warm welcome from all the coaching and playing staff, as well as our members and supporters."
Maynard's last major coaching role in England ended four years ago when he resigned as Glamorgan director of cricket, dubbing his position as "untenable" after the county introduced Colin Metson above him as head coach.
Since then has coached Titans in South Africa and the St Lucia Zouks, who this season finished bottom of the Caribbean Premier League. He has also worked alongside Flower in a coaching role with England U-19s. He was also an England assistant coach during their successful Ashes campaign in 2005.
Maynard founded the Tom Maynard Trust after the death of his son and got to know Somerset's chairman Andy Nash during a charity cycle ride which was one of the fund-raiding events in his honour.
Nosworthy left two years into a three-year contract, perhaps never recovering from suggestions that he wanted to replace Marcus Trescothick as captain. Maynard's most pressing task will be to decide upon the future of Trescothick, who remains one of Somerset's most popular figures, but who has failed to win any trophies while captain despite innumerable near misses.
Maynard spent the whole of his 20-year playing career with Glamorgan where he made 395 first-class appearances scoring nearly 25,000 runs at an average of 42.53. He also led them to the Championship title in 1997 and played in four Tests and 14 ODIs.