Rangers have announced that they have parted company with manager Giovanni van Bronckhorst.
The 47-year-old replaced Steven Gerrard in the dugout in November 2021 and he steered the Gers to Scottish Cup glory and the Europa League final last season.
However, form in both domestic and European competitions has dipped this campaign and the Glaswegian giants have decided to relieve the Dutchman of his duties.
Van Bronckhorst's team recorded the worst-ever Champions League group-stage campaign earlier this term, finishing with zero points and a -22 goal difference.
A humbling 7-1 defeat at home against Liverpool was their heaviest defeat in Group A, while they were also comfortably beaten in home and away fixtures against Ajax and Napoli.
Rangers have also slipped nine points behind bitter rivals and reigning Scottish Premiership champions Celtic, after dropping points in three of their last five league matches.
After rescuing a 1-1 draw at home to Livingston at the end of October, the Gers suffered a disappointing 2-1 away defeat against St Johnstone on November 6, before playing out a 1-1 draw away to St Mirren six days later, which was ultimately Van Bronckhorst's final game in charge.
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A statement on their official website read: "The board would like to put on record sincere thanks to Gio for all his efforts since his appointment as manager.
"Arriving at the club just over a year ago, Gio led the club to a fifth European final and won the Scottish Cup last May. He also led the team to the club's first Champions League qualification in 12 years.
"Unfortunately, results and performances over recent months haven't met expectations and the decision was made today by the board to terminate the contract of the manager.
"The search for the new manager is now underway."
Rangers chairman Douglas Park added: "I want to thank Gio for the hard work he has put in over the last 12 months and, especially, the achievements of taking the club to the Europa League final and winning the Scottish Cup last season.
"Unfortunately, recent results have not met neither our nor Gio's expectations, and we have taken this difficult decision today. Everyone at Rangers wishes Gio every success in the future."
Van Bronckhorst leaves Rangers with a record of 42 wins, 11 draws and 15 defeats after 68 games in charge across all competitions.
Former Burnley manager Sean Dyche, ex-Southampton head coach Ralph Hasenhuttl and Queens Park Rangers boss Michael Beale – who was Gerrard's assistant at Rangers – are the early bookmakers' favourites to succeed Van Bronckhorst at Ibrox.
