Many Rangers fans woke up to the news this morning that after increasing pressure Craig Mather has stepped down from his position as Chief Executive Officer of Rangers Football Club. This comes only days after the Rangers opposition group were granted an Interim Interdict by Lord Tyre preventing the AGM from going ahead on the 24th October.
Mather had been appointed as interim chief executive of Rangers International earlier in the year after Charles Green stood down due to rumours of his continued association with Craig Whyte.
This news overshadowed the fact that it was announced on the London Stock Exchange that also departing the Rangers board today was Non executive director Bryan Smart. These departures now mean there are vacant places on the board that need to be filled. This will be done by names being submitted for election at the Annual General Meeting, which will now take place at a later date.
The London Stock Exchange announcement read as follows :
“The company announces that, by mutual consent, the chief executive, Craig Mather, has resigned from the company with immediate effect. The company also announces that non-executive director Bryan Smart has resigned from the board with immediate effect. The directors would like to thank both Craig and Bryan for their contributions to the club.
“As a matter of priority, the company, working with its advisers, will now seek to strengthen the board, both to meet the standards required for an AIM company, and to achieve stability through a consensus amongst major shareholders, which can then be considered by all shareholders at the annual general meeting.”
Many are surprised that Brian Stockbridge has remained as finance director, as many have called for him to go and described his position as untenable.