Walter Smith Bids Farewell to Rangers Board Which Created a “Highly Dysfunctional Environment”

Walter Smith statement

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It is with the greatest of regret that I have to announce to Rangers supporters that I have decided to step down as Chairman of Rangers Football Club. It is, I am convinced the correct thing to do under the circumstances.

Unfortunately, recent events have led me to the conclusion that the only option left open is for me to submit my resignation and to leave the Board of Directors with immediate effect.

Working with a Board which could rarely find consensus and agreement has created a highly-dysfunctional environment which has not been good for the Club. On top of that, there has been recent further disruption which again has rendered the Board less effective and efficient than it ought to have been.

Walter Smith Walks Away From Rangers

The BBC’s Chris McLaughlin was spot on when he suggested last night that Walter Smith was on the point of leaving Ibrox.

The Rangers website today has the following statement:-

RANGERS announces that Walter Smith has today resigned from his position as Chairman and a director of the Company with immediate effect.

Short and sweet?

Walter Smith, Rangers and “Dignified Silence”

Rangers CEO Craig Mather talked a few short weeks ago about the need for “stability”. I suspect that moves to oust him and two other directors, coupled with public criticism by senior employees of other senior employees, and over the weekend various articles in the media suggesting concern re the company’s finances were not what he classed as “stability”.

Indeed his comment has the potential to be up there in the ranks of ill-timed statements alongside that of General George Sedgwick who, at the Battle of Spotsylvania in the US Civil War’ disparaged the enemy snipers with the words “They couldn’t hit an elephant at this dist…”

But the focus for this jotting is on the Chairman, Walter Smith.

Is Walter Smith Qualified To Be PLC Chairman at Rangers? Will His Roosternet Experience Help?

Thursday was a glorious day for Rangers. First of all the Pinsent Masons independent Report confirmed that there were no links between Mr Whyte and Mr Green – at least if you read the headlines to the media reports!

Then Malcolm Murray stepped down as Chairman, to be replaced by Walter Smith.

All was well in the Ibrox garden – the lion would lay down with the lamb – and all of the bears would be united!

And surely season ticket sales will start imminently!

But there needs to be a curmudgeon somewhere … and I am he.

Some questions – what are Mr Smith’s qualifications for being non-executive Chairman of a PLC?

Why did Mr Smith turn down the Chairman’s job last summer, only to take it now?

Have his wishes for the “new Rangers Football Club” been fulfilled so far?

Why did he refer to the “new” Rangers Football Club?

Why is he at the head of the PLC and not the “football company”?

Can he even be described properly as an “independent” Chairman?

Is Walter Smith “Widely Acknowledged” as Rangers Most Successful Manager?

One wonders who is responsible for writing the Stock Exchange releases for Rangers. I have mentioned before the fact that, in every LSE statement, there is mention that the “Club” is managed by Ally McCoist “who is still the Club’s all time leading goalscorer”.

One wonders if they will ever mention his managerial skills, which might seem more relevant for investors reading the releases.

One also wonders if the people who write these statements on behalf of Rangers realise that there is such a thing as “over-egging the pudding”.

Yesterday’s statement contained a masterpiece of the art. Did you spot it?