The pair left Arbour Park earlier this month after a near-decade spell with the club.
Davies - who had a spell as a player with the Rebels - had been on an interim basis along with Lee Togwell and Manny Williams.
Their only game in temporary charge saw them progress in the FA Trophy at the expenses of Hanwell Town.
Following that, the club announced yesterday that Davies had been made their permanent boss with Togwell staying on as his assistant.
Their first game at the helm will be this Saturday at home against Eastbourne Borough.
A club statement read: "We are delighted to confirm the appointment of Scott Davies as the new first team manager of Slough Town Football Club.
"We are also delighted to confirm that Lee Togwell has been appointed as assistant manager and head coach.
"After further conversations with the board of directors, Manny Williams has decided to leave the club and he departs with our very best wishes for the future.
"We would like to wish Scott and Lee every success in their new roles, starting with this Saturday’s home match against Eastbourne Borough.
"We would really encourage our fantastic supporters to get behind Scott, Lee and the team, and bring friends and family to take advantage of the various ticket offers we have in place."
Writing on Twitter, Scott Davies wrote: "Management has arrived a lot sooner than expected, but here we go!
"For people that know me will know that I’ll leave no stone left unturned in the pursuit of success. Extremely fortunate to have @leetogs alongside me. A first class coach and a brilliant person ?? @sloughtownfc"
MAIN IMAGE - GEORGE BECK