John Bennett has informed Rangers of his intention to resign as chairman of the club.
The 61-year old stepped up from his position as vice-chairman last March to replace the outgoing Douglas Park but the demands of the role have taken its toll and he has decided it is time to step away.
The Athletic approached Rangers for comment on Friday night and also spoke to senior club sources, talking anonymously given the sensitivity of the matter, who said they could neither confirm nor deny the news.
There is believed to be no immediate plan in place for his successor.
Bennett joined the board in March 2015 as part of the regime change that ousted Mike Ashley and his associates from the club.
He has ploughed millions of his own personal fortune into the club alongside other fan-investor shareholders to fund Rangers and cover losses incurred since 2015.
During that time Rangers have won one Premiership title, one Scottish Cup, one League Cup and reached the 2022 Europa League final.
But the last year has been a testing time since he took over as chairman with fan discontent growing over regression on the pitch and a delays to summer’s stadium upgrades forcing Rangers to rent the use of Hampden Park.
During his time as chairman, Bennett was responsible for sacking Michael Beale as manager after just over 10 months in charge.
Current manager Philippe Clement was also handed a new contract until 2028 last month, with Bennett highlighting his own long-term vision for Rangers following the announcement.
“As I intimated in my recent RangersTV interview, Philippe and I had a far-reaching conversation at the end of May,” he said.
“Our shared ambition was clear: the rebuild of the Rangers men’s first team for the long term as well as short term.
“At that meeting we shook hands on this new contract and the board is delighted that the formalities have been concluded.”
Changes set to continue at Rangers
Analysis by Jordan Campbell
Bennett is one of only two directors based in Scotland. Graeme Park, son of transport tycoon Douglas Park, remains on the board despite his father resigning last year after a power battle in which former chairman Dave King voted against his re-election.
King is based in South Africa, John Halsted and Alastair Johnston are based in the U.S., while Stuart Gibson, George Taylor and Julian Wolhardt are in Hong Kong.
Bennett had been seeking to appoint a new chief executive after James Bisgrove, the person he promoted after the departure of Stewart Robertson last summer, who left to take up a role at Saudi Pro League team Al Qadsiah.
The role has been vacant since the end of May as links with St Mirren vice-chairman Jim Gillespie were eventually ditched.
Rangers moved away from the sporting director model under Bennett’s tenure but there has been massive change throughout the club in the last two years, with several roles still not filled, including an academy director.
(Craig Williamson/SNS Group via Getty Images)
