Just haven got Yeovil on a winning run, the former Glovers boss has to do it all over again, and more, with the Seagulls, and just in time for our game with them on Tuesday! Surprise, surprise!
Albion are in the League One relegation zone, two points adrift of safety. If he saves the club from the drop then he'll be in a very strong position to land the post on a more permanent basis.
Slade has also managed Scarborough, Sheffield United and Grimsby, and joined the Glovers on a three-year deal in June 2006 but left them last month.
The experienced Slade left Yeovil last month after four straight wins, because of differences with the Board over finances and the club's lack of ambition and arrives at Withdean with an excellent record of success with unfashionable clubs in the lower divisions.
Scarborough looked doomed to relegation from the Conference when he kept them up seven years ago. He guided Grimsby to the League Two play-off final in 2005-2006 and Yeovil to the League One final the following season after knocking out Nottingham Forest.
Slade also had two brief spells in charge at Bramall Lane.
The appointment of Slade ends a saga which began with the departure of Micky Adams by mutual consent a fortnight ago. Stockport chief Jim Gannon rejected the job last week and former Blackburn boss Paul Ince turned down talks earlier this week.
He faces a quick reunion with Yeovil. They are at Withdean on Saturday week after tomorrow's trip to relegation rivals Leyton Orient and his first home game in charge against Southend next Tuesday.
Brighton chairman Dick Knight told the club's website: "Russell impressed when I first met him, he has the confidence to make things happen and I know he gives that to the players. He has an excellent record and I am delighted to welcome him to the club."
Caretakers Dean White and Bob Booker are staying with the Seagulls to assist Slade in the battle to beat the drop.
Knight continued: "Dean and Bob have done an excellent job in the last fortnight and Russell is happy to work with them to ensure continuity in the coming weeks."
They have landed leftback Gary Borrowdale from Queens Park Rangers, a former Blue target by all accounts, and Reading's giant young Danish goalkeeper Mikkel Andersen. Borrowdale, 23, provides cover in the absence of Jim McNulty, who is out for the rest of the season with a ruptured kidney.
The ex-Crystal Palace and Coventry defender immediately comes up against one of his former managers, Geraint Williams. The Orient chief borrowed him earlier in the season when he was in charge at Colchester. Borrowdale has yet to make an appearance for Rangers since joining them in November, initially on loan and then permanently in January.
The 6ft 5ins Andersen will be competing for the No. 1 spot with John Sullivan, as first choice Michel Kuipers is sidelined by a hamstring injury. The 20-year-old joined Reading on a two-and-a-half year contract from AB Copenhagen in January 2007.
Andersen has not played in the Royals' first team but has experience of English football in loan spells with Torquay, Rushden and Diamonds and Brentford.