Craig Mather Resigns as Rangers CEO

October 16, 2013

Rangers have lost their chief executive Craig Mather after he decided to resign from the post.

An announcement was posted on the London Stock Exchange on Wednesday morning that also confirmed non-executive member Bryan Smart had stood down.

Mr Mather said he is leaving his post with Rangers International Football Club plc with immediate effect “in attempt to help calm speculation” over leadership at Rangers amid a long-running boardroom battle.

The company is now looking for new members of the board to be put up for election at the annual general meeting, ambulance which has been postponed from its intended date of October 24 after opposition shareholders successful took Rangers International to court.

On Monday former oldco director Paul Murray and ex-Rangers International chairman Malcolm Murray were granted an interdict to postpone the meeting after the current board refused their attempt to put themselves and two others – Alex Wilson and Scott Murdoch – up for election to be appointed directors.

Rangers said in the stock exchange statement: “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.”

In an announcement on the Rangers website, Mr Mather said he regretted the leadership battles at the club, but claimed he is leaving the company in good shape.

He said: “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.

“My short tenure as chief executive has been beset by incessant attempts to destabilise the operations of the club, all done supposedly in the interests of Rangers. I had real faith in the rebuilding of Rangers and invested significantly in the club. Sadly, those who have been most active in upsetting the very good progress we have been making were not willing to do the same.

“I leave with my head held high and will remain as a shareholder and a supporter of Ally and his team.”