Runnells served as the Rockies bench coach under former manager Jim Tracy, and has held the position for the club since 2009. Tracy resigned on Oct. 7 with $1.4 million and one year remaining on his contract.
The 57-year-old Runnells, a former infielder with the Cincinnati Reds, served as the manager of the Montreal Expos from 1991-1992. After leaving the Expos, he spent time managing in the Detroit Tigers minor league system before latching on with the Rockies.
Runnells was a candidate for the Rockies' managerial position and interviewed with the club before the search was narrowed to Weiss and Matt Williams. The 48-year-old Weiss was named the team's manager on Wednesday, despite having no experience managing at the major league level. Weiss spent last year coaching Regis Jesuit High School in Aurora.