Rangers International Football Club PLC is, as the name tells us, a public limited company. Its shares are traded on the Stock Exchange. There are certain standards of corporate governance which require to be met in the interests of shareholders and potential shareholders. These include having a suitably qualified Board of Directors, comprising executives and non-executives and including a chairman to represent the interests of the investors and to oversee the executives.
RIFC presently has a board which consists of:-
Brian Stockbridge – Finance Director
James Easdale – Non-Executive Director
And that is all.
There is no Chairman.
There is no CEO.
The AGM has had to be postponed.
The company’s NOMAD has publicly forced RIFC to “correct” statements by Mr Mather and Mr King.
So why has Mr Mather gone, and gone now?
“Mr Mather has agreed to stand down in an attempt to help calm speculation over the governance and executive management of Rangers.”
That is a bit like the statement attributed to a US Army Major in the Vietnam War:-
‘It became necessary to destroy the town to save it’!
Or, because of concerns about how the ship is being sailed, the captain has jumped overboard!
Has Mr Mather left because of any failing on his part? What has he said? (Link courtesy of the official Rangers website)
“The interests of the Club are of paramount importance and I believe these are best served by me leaving the Club.
“Despite recent events and speculation, the facts of the matter are that the Club is financially secure and in a far better place than it was a year ago.
“Unlike most football clubs Rangers has money in the bank, no borrowings and this season we have assembled a squad which is capable of progressing through the leagues.
“I leave with my head held high and will remain as a shareholder and a supporter of Ally and his team.
So, in his time, both at Murray Park and as CEO, Rangers have achieved a status which can only be the subject of praise.
It is reminiscent of the departures of Mr Green and Mr Ahmad, who both departed having been cleared of involvement with Mr Whyte.
And to cap it all, as a result of the bungling by the Board, led by Mr Mather, the AGM at which there would be a chance to get the company back on an even keel, has had to be postponed!
There have been persistent rumours that the AIM has been looking at the corporate governance of RIFC PLC. There has been no formal confirmation of this and therefore such allegations must be taken as mischief-making. However, even in the best run company, the present situation would at least give some pause for thought, if not cause for concern.
What a mess.
Posted by Paul McConville
212 responses to “‘It became necessary to destroy the town to save it’ – Craig Mather’s Departure From Rangers”
“The last thing I will touch on is the slightly embarrassing plans for the AGM. Mather and Stockbridge are/were so anxious about fan reaction they planned a 10ft stage with back exits and a tonne of police (no joke) so that they could be protected and escape if things got ‘heated’. For the executives to require body guards and a plan B is truly the most absurd thing. What did they expect? A swarm of 50 angry bears charging the stage wanting blood? ”
“For a start, Rangers fans, myself included, applauded manager Ally McCoist for taking a 50% wage cut recently. Unfortunately the problem is this is, thus far, a complete fabrication. Ally McCoist’s wage remains at £875,000 plus bonuses. No wage cut has yet been taken by the boss.”
Sally doesn’t do walking away from his staggering salary..!
Hi Jim.There’s no danger that fatso has signed any salary reducing contract & now that Craigie’s offski,that will be on the back burner.
LOVING your Teflon Teddies comment on the previous page Jim,one of your best.
Better get that copyrighted before the camster claims it as his own.
He’s forever stealing our best lines. 🙂
@Maggie hows it going, you still on hols…? Good to see you keep up..
I honestly could not GUESS what will come out of the rangers tomorrow…
I think if Shockbridge goes the AIM will suspend trading. This could jeopardise Chico’s shares at the end of the lock in period (i dont think he can sell them now) so will Chico order his boy Shockbridge to stick around until December or maybe get another board member in to keep the numbers up and allow Shockbridge to negotiate a contract release package with himself..
Maybe Chico will come back as saviour once again.
Maybe the Easdale will pull a flanker and get some more of their own boys in.
Can the AGM go ahead without a chairman/CEO… ?
I think we will see a note to the AIM asking for more time for the AGM because they lost their leader..
We won’t see an AGM this year, my opinion.
All that has come to pass of course is victory to the Teflon Teddy’s…. This has been the strategy all along.. 🙂
Still on hols Jim,raining today,ideal opperchancity to see what’s happening at Spivco.
Had to fight with Mr M to get hold of I pad to check in 🙂
I know we overuse this phrase, but it REALLY is he gift that keeps on giving.Such fun 🙂 HH
One of the commentators made a good point, CG could have and maybe should have been sacked for his racist remark, this would have saved Rangers 500k.
@Niall I think so but did Mather or was it shockbridge who said that the comp committee decided to give him some severance with some lame reason for that,.. Not like Chico could spill the beans without incriminating himself.. The bulk of rangers money has went on lawyers, payoffs, hi sals and bonuses… Pretty much the categories you would like to keep a financial lid on as a new company.
Chico could have done an Imran if he didn’t get suitable wedge and more court time and lawyers fees..
“I cant believe Rangers would fail to exist- its beyond my brain capacity”. Craig Mather ex CEO .
I see wee Imrans case Is put back until December.May be time to get the old ring fence out pal as the way this lot are going not a lot left in the kitty by then.
From the Media House web page”Irvine has carved out a niche in crisis management and in that role deals almost exclusively with chairmen,presidents and CEOs”.OOOPs the job at sevco just got a whole lot harder.
October 16, 2013 at 1:57 pm
Let me get this straight………………………………………………………. everyone else has tanned your arse so now you try it with me?
Just Do one.
You are full of shhhheeeeeeettttttt.
How many people on here are laughing at you and your Ex club?
Evening Joe, I am actually not a Rangers fan, I am a compassionate human offering comfort to anyone who is suffering from the mental effects of decades of rejection. If a society doesn’t love someone they replace this with hate and bury it deep into their psyche.
The demise of Rangers has acted like a severe trauma that has released pent up anger and paranoia, your response is atypical, and is understandable.
If a society doesn’t love someone
MORE AMATEUR PSYCOBABBLE
Ah my old English student coatbrig,
” If a society doesn’t love someone”
” MORE AMATEUR PSYCOBABBLE”
Care to explain to me what Catholics mean by an anti-Catholic ethos?
Try and broaden your English comprehension to include all its metaphorical nuances, you seem almost fundamentalist in your literal interpretations, this is quite normal for those who learn English as a second language.
I am an Atheist,why not ask a catholic what Catholics mean when they allegedly say something,
I have met to many west of Scotland protestants that tell me to go back where i come from, i have to ask them the times of the bus to Coatbridge.
I was Born in Scotland, to two parents that were born in Scotland, all four of my Grand parents were born in Scotland and all * great Grandparents born in Scotland,
Protestants with Ulster,or English or born parent (s) or grand parents or great grand parent tell me that i am not Scottish, Had one idiot that i have known for to long told me i was Catholic and Irish, because he knew my Family, when i pointed out my familys history and the fact that his mother was Welsh and he had a grandfather from belfast made him look foolish in his argument, i was told as far as he was concerned every one, NOT some,but everyone that supports Celtic are Irish Catholic.
you in your misguided arrogance are just as he is, foolish to the extreme,
English comprehension is no excuse for you making lunatic unfounded claims about societies ability to form a Emotional attachment to an individual.
your getting even more desperate in your attempts to justify posting SHYTE, oops sorry ,Psycobabble on this site.
even people that don’t speak English as a first Language refrain from stealing their old sick mothers dinner, but not you,eh.
Looks like the Bears Den has crashed at the moment……….just like their clumpany,
@JOE i tried a couple of times earlier this morning and it was not available.. Bears in meltdown, battering bails of shoite out of each other it seems… The pro-chicoites will be crowing soon as the saviour returns (with empty pockets).. He can galvanise the 500 million fans whilst finishing off the cash, blaming those who dismissed him for all the bad things that have happened…Sale and lease back returns to the table…
It’s been crashed since the announcement this morning.
I’ve noticed this before when something big and bad breaks. Either melts under the weight of over excited bears, or one of these DDI thingy attacks to close down debate?
Now to play Devil’s Advocate for a second, Sevco Rangers are mired in yet another ownership crisis so why should the pie connosieur take a pay cut now. Surely the prudent thing to do is wait until the ownership issue is settled and then discuss a new equitable remuneration package with the new owners.
He’s only looking out for number one after all – selfishness is one of those unattractive traits that we all possess in varying degrees.
Hey Cam – how do you embed an image in comments here. I’ve found a cracker of Bill Struth wearing his baggy flannels and sporting a swastika armband – it’ll crack you up bud.
“I never have to read a Rangers contract before I sign – it is an absolute privilege and honour to represent this great club, the money is unimportant”.
Jeezo – only an imbecile would believe this claptrap from McCoist. Do you believe him Cam?
The Scottish football page on Yahoo states that Dunfermline are coming out of administration and I would like to pass on my congratulations to the club.
@Hector yeah read that they needed to beat masterton in a recent court case and surely did.
The mere mention of the name Rangers makes me physically sick…..always has!
Are you there Mont?
FYI….I’m arranging a massive shipment of yon green pistachio ice cream c/o Signor Monti The Tim
Don’t want to risk any shortages with all the breaking ( bad ) news 🙂
Make sure you put at least a couple of litres aside for me,oh what he heck Mont,I’ll just get tore into it here. HH
You must be psychic Mont,it’s that Celtic ESP that we all possess.
Mind and watch out for that shipment 🙂
excellente paul ,you old fox,as for seevco their fans you are a pile of shoite
Rangers went bust, the SPL tried to keep them but the fans said no, the SFA tried to squeeze them into SFL1 and again were thwarted. Finally the SFA facilitated the return of Rangers into the bottom tier through a contentious membership transfer.
Let us assume there were some rules bent to accommodate Rangers for whatever reason, should we care, should we care a lot?
I think we should care if rules were broken to keep them in the SPL, and maybe we should care if rules were bent to put them in SFL1.
However to go berserk with moral outrage about Rangers even being allowed a place in Scottish Football is an off the charts overreaction. Anyone who has spent the last 15 months wanting Rangers extinct is not in a healthy mental state, and we know the historical causes.
I have contacted the govt to request some of the 3 million anti-sectarian funds be donated to counseling for Irish Catholic victims of sectarian abuse, they have become addicted to hate.
This is now developing into a full blown syndrome, an addiction spreading through the internet, Celtic fans not leaving the house too busy scouring blogs and papers for their daily fix.
Tell any outsider what is going on and they think you are kidding them on, it is a truly remarkable insight into the human mind. I never understood why the Irish problem was never ending, and I think I understand now, we are products of our past experiences more than anything else.
A Jesuit priest once said ” give me the boy to the age of seven, I will give you the man.
I think a lot of priests got into trouble for trying the same swap.
Better just hush it up.
Lex explain and for every story you will get a non priesty reply bad
I suspect your info is flawed go research more ya dik. sad man. dont post again if you are a man think about what you said to your god…
Show you the man , your sunk
SFL1 and financial compensation should have been the outcome.crazy putting them in div 4 , Livingston going down there was stupid too. Doncaster looks like and is a circus clown he must be the highest paid “clerk” in the UK.
One of the common denominators of the numerous massacres in America is the gunmen were young men who felt excluded from society, they call it disenfranchised. These men felt unloved and mocked for being different, in effect for being a minority, thankfully we have severe gun controls in Scotland, or else I would be fearing the worst.
There is another factor that we can look at to see if it has made things worse, I wonder if the resentment toward society has increased because of the many attacks on the Catholic church because of the pedophile scandal. I wonder if this mocking has also contributed to their paranoia, again we go back to the interview, Richard got very angry with anyone who judged him or criticized him, it brought back memories of his earlier abuse, maybe this is why some perceive there is an anti-Irish Catholic ethos in society, they criticism of their faith as just hidden abuse and sectarianism.
Have you noticed how touchy the subject of child abuse is on here, there must be a reason.
Possibly Rangers is not the only factor in play here, it is all very interesting stuff.
We Scots only increased our gun laws after Dunblane. Hamilton was Scout leader and youth club organiser. He was Scottish and revered the Queen enough to send her a letter before her atrocity. What are we to make of all that?!?
Is it a coincidence the crowd in here demonize the non-Rangers fans more than the Rangers fans, there is a palpable distrust and dislike of Violet, David, Sevco and my good self.
Now a cause and effect brain must ask why this is, why do they take criticism from an UNBIASED source worse than from a Rangers bigot?
The answer may have something to do with their mindset, the same mindset that assumes all unbiased sources are really biased, and this is classic paranoia. Not content with having an enemy they invent more enemies, it is the paranoia spiraling out of control.
I cannot see this ending in any other way but in tears, eventually the sympathies of the authorities will be replaced by enough is enough, and they will jump on a few from a great height to discourage others.
October 16, 2013 at 6:21 pm
Is it a coincidence the crowd in here demonize the non-Rangers fans more than the Rangers fans, there is a palpable distrust and dislike of Violet, David, Sevco and my good self.
The anwer is quite simple really…your all fudds!
What I worry about is where do these people go mentally when all the dust settles and Rangers return to just being a football club. Where can they feed their addiction to venting hate? Will they resent society for just carrying on as if nothing happened?
What happens when it is just about football, will it be enough?
I predict the Green Brigade will get an influx of men in their 40s, 50s. 60s and 70, we will see a rise in anti social behavior, not led by the young but by damaged middle age men.
…and Rangers return to being a football club…what century, what planet will that be on? Dead, again, by Xmas…
@Niall Jeez!. calm down fella…Your disease is taking over..
No more percentages or predictions old boy!!! Plz!! I am getting embarrassed for ya..!!!!
Who are you Niall?
You strike me as more than a little bit demented and your assertions about the effect of sectarian Scotland’s historical treatment on Irish people, Catholics, victims of child abuse are just wicked.
Scotland’s Shame is NOT that it is a sectarian country; it IS that sectarian people like you were given a free pass for what is aberrant behaviour.
You dish out demeaning and deliberately hurtful comment apparently without effort.
Can it be that, after so many decades of getting away with it, the vast majority of Scots have finally woken up to such as you and don’t want your type besmirching the country’s reputation any longer?
here ye here ye,all celtic shareholders, WE MUST HAVE THAT RESOLUTION FOR UEFA TO PROBE ssshhtt u know who
aha ha ha ha aha hah oh stop it mon ….you will be told to f@ck off you clown
Couldn’t make it up….
forum.rangersmedia.co.uk Driver Error
🙂 🙂 🙂 🙂
” Is there anybody there ?”
Maggie, sorry to hear it’s raining where you are, it’s lovely and sunny out here on the Costa. And just when you think the day couldn’t get more perfect you learn that Al Johnson is saying the sainted one is still in charge at IOUbrox!!!! You simply could not make it up. And what about the return of the King? Jeez, with him and the ex-con Mr Easdale on the board it’s not a CEO they’ll need, more like a Chief Warden——-just got the lady wife to spray a tad more factor fifteen on the old back—-all this and to be a Tim as we’ll—-isn’t life just grand.
looks like the Scottish police force, have shat a brick big time, and have filed no complaints about the army at ibrox. there is no case to answer. oh well the rangers fans that want a
independent Scotland can file this as under, no chance