Ranieri, who guided the Foxes to a fairytale Premier League title in 2016, was unceremoniously sacked following a dismal run of form which had the reigning champions staring relegation in the face.
Shakespeare took over from the Italian in a temporary capacity but following back-to-back Premier League wins over Liverpool and Hull was handed the reins on a full-time basis until the end of the season this weekend.
"Of course I'm part of that back-room team, but it's about time we all moved on,” he said ahead of the Champions League last-16 second leg with Sevilla on Tuesday night.
"I bear no grudges, Claudio bears no grudges. We have to try and move on as a football club."
Leicester must overturn a 2-1 first-leg deficit if they are continue in the competition and Shakespeare is calling on the home crowd to help his side pull off the improbable.
"It will be a special occasion at the King Power," he added.
"The atmosphere will be electric. I'm expecting the team to take the momentum from the two results, to take the confidence they've gained from that and really play on the front foot.
"That's not saying we'll be open as we know Seville have some very, very world-class players. But it makes for a very interesting game because of the away goal."Reuse content