"The decision has nothing to do with Sourav Ganguly's performance. It's just that we would like him to concentrate on batting when he's batting, bowling when he's bowling," said Buchanan at a press conference.
"The concept of multiple captains is new, we'll have to see how it goes".
He further said that the team has a good bunch of players who have the abilities to take up the challenge. "There is a lot of calibre in the side that we'd like to make use of."
He also said the team had a harmonious relationship amongst each other and there was no clash whatsoever.
"There is no rift amongst us. I too would have been upset had I been in Sourav's place."
Ganguly on his part said his focus was to perform on the field.
"He is the coach, he has views. My goal is to score runs and take wickets," responded the former India captain when asked whether he was disappointed with the KKR's move. And even before Ganguly could finish his response, Buchanan intervened to say "He is the King of Kolkata."
Ganguly continued: "If you (the media) is going to make a big deal about it, go ahead, we are not going to do it. The concept of multiple captains is new and we will have to see how it goes."
Asked how the team would cope with the conditions in South Africa, where the IPL was shifted after failing to get security assurance from the Indian government, Ganguly said, "It will be different to play there. Wickets will have bounce but let's see."
Earlier there were speculations that Ganguly had run out of favour with the Kolkata Knight Riders with manager John Buchanan not keen on picking the left-hander for IPL second season.
Names of New Zealand wicketkeeper-batsman Brendon McCullum, West Indies captain Chris Gayle and Australian Brad Hodge are doing the rounds for the captain's role.
Ganguly won't be the first big name to lose his captaincy. Rahul Dravid and VVS Laxman also lost theirs to England's Kevin Pietersen and Australia's Adam Gilchrist, respectively.