The 41-year-old Baum's last match was a 2-0 home defeat by Freiburg on Wednesday which left them rooted to the bottom of the standings with just four points after 12 games.
"I spoke to Manuel Baum this morning. I wish him luck for the future," said caretaker boss Stevens, who returns to Schalke for his fourth stint."My heart is still blue and white. When the club turns to me in difficult times, I can't say no."
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