Rangers have thanked Graeme Murty for his work over the last six months after confirming that the interim boss has left his position.
The Gers dismissed the 43-year-old on the back of Sunday afternoon's humiliating 5-0 defeat to Old Firm rivals Celtic at Parkhead.
Murty had been in place since the end of October following the exit of Pedro Caixinha, officially being given the job in January until the end of the campaign when a new manager was expected to be brought in.
Rangers have now brought those plans forward by pushing Murty out of the Ibrox exit, with Liverpool legend Steven Gerrard the clear favourite to take charge.
A statement on the Gers' official website on Tuesday morning read: "Graeme Murty has this morning been relieved of his duties as manager of Rangers.
"Rangers are grateful to Graeme, who did not hesitate when asked last October to become interim manager after the departure of Pedro Caixinha and then, at the turn of the year, when he was offered the role as manager until the end of the season.
"Graeme has had to contend with difficult and challenging circumstances but conducted himself in a thoroughly professional manner. He will take some time to consider his options, which include returning to his role at the Rangers Academy.
"The club hopes to be in a position to comment further on the managerial situation in the near future."
Jimmy Nicholl and Jonatan Johansson will take charge of Saturday's match against Kilmarnock, before Rangers see out the campaign with games against Aberdeen and Hibernian.
