Gisdol has signed a contract that runs until June 2021 and replaces the recently sacked Achim Beierlorzer, who returned to work on Monday with German top-flight rivals Mainz.
Beierlorzer lost his final four games at the helm to leave Cologne 17th and at risk of relegation from the top tier.
Gisdol will be joined by a new sporting director in Heldt, who has also penned a one-and-a-half-year deal, in the hope major changes can lead to an upturn in fortunes.
Former Hoffenheim and Hamburg boss Gisdol told the club’s official website: “Cologne is a top club in German football.
“The current situation is not easy, but I know these challenges and I am totally convinced that we can overcome these. I want to help the team as quickly as possible, to come back to their undoubted potential.”
Cologne return to action after the international break with a trip to second-place RB Leipzig at the weekend.
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