Breaking News – Craig Mather Resigns as Rangers CEO – And Bryan Smart Goes Too

Stock Exchange announcement this morning:-

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.

Mr Ahmad Leaves the Rangers Stage – Does This Leave Only One Director of the Rangers Football Club Ltd?

According to the BBC, Rangers have confirmed that Imran Ahmad, the Commercial Director and close ally of Charles Green, has left the club.

Of course, as a listed company, and as Mr Ahmad is a “key employee” (as described in the Prospectus, RIFC PLC needs to be careful about how it publicises the information, lest it be accused of releasing market-sensitive information inappropriately.

Mr Ahmad was of course not on the PLC Board, but he was on the Board of the Rangers Football Club Ltd.