Rangers have confirmed to the Stock Exchange that chairman David Somers has resigned from his position.
The businessman, who became the Scottish club's chairman in October last year, was expected to leave Rangers prior to Friday's Extraordinary General Meeting.
In a statement, Somers said: "When I was approached about the Chairmanship of Rangers, friends warned me that the world of football has different rules and codes of behaviour. I now know that is a gross understatement.
"I am a non-confrontational man and have always tried to bring harmony to boardrooms and with stakeholders. At the risk of antagonising my army of critics, I would point out that Rangers managed to pay its bills and avoid going under during my tenure. These critics might not agree with how we achieved this.
"I look forward to alternative solutions from whoever is running the club in the future. Despite the personal attacks on me from various sources, I genuinely with the club the very best in the future and I am confident that with such a passionate and vociferous fan base, they will be restored to their former glories."