Rodgers told Celtic's club website: "It has been a real honour to serve the club and its supporters across the past three seasons".
Dembele and Rodgers had some really good days together at Celtic but as Tuesday proves the lustre of those seems to have long since worn off.
"But Celtic fans will say that Celtic is the club and he's let them down".
"As projects, including the development of our new training ground and the proposed expansion of King Power Stadium continue to take shape, and as a young squad of great potential begins to mature, Brendan and his colleagues arrive at an exciting time for Leicester City". John will allow us to have important continuity and Damien will bring real knowledge and experience to the first team squad.
"He gave the club so much and has created so many wonderful memories for the Club and our supporters".
Rodgers spent four full seasons with the Merseyside outfit before he was relieved of his duties, and went on to seek pastures new north of the border, joining Celtic in the summer of 2016.
"He's got a presentation for them to show them what he expects on and off the pitch so I look forward to seeing that as well", Mike Stowell, who took charge of Leicester for the game, said of Rodgers.
Lennon's whirlwind start to his second stint as Celtic manager will see the league assignment at Tynecastle followed by Saturday's Scottish Cup quarter-final against former club Hibs at Easter Road.
Former Liverpool manager Rodgers won seven domestic trophies in almost three seasons in charge of the Glasgow giants and leaves the Hoops eight points clear at the top of the Scottish Premiership.
Rodgers has won every domestic trophy on offer to him during his two and a half seasons in charge.