Thursday, June 2, 2011

Rangers remove chairman Johnston

By Alasdair Lamont
BBC Scotland Former Rangers chairman Alastair Johnston Johnston had expressed doubts about Whyte's takeover of Rangers Rangers have removed chairman Alastair Johnston from his position on the board, the club has announced.

Also leaving is director Paul Murray, who led a late bid to rival Craig Whyte's successful takeover of Sir David Murray's majority shareholding.

BBC Scotland's information is that both men were asked to resign and refused, leading to their removal.

Chief executive Martin Bain and finance director Donald McIntyre have been suspended pending an internal inquiry.

New appointments to the Ibrox board are likely to be made within the next two or three weeks.

However, it is understood John McClelland and John Greig will not be asked to resign their positions.

A statement to the stock exchange read: "The board announces that on 23 May 2011 Alastair Johnston and Paul Murray were removed as directors of The Rangers Football Club P.L.C."

Johnston had indicated previously that he would step down on 16 May. That was later delayed with the agreement of Whyte, pending the disclosure of more details about the buyout to shareholders.

That information is due on or before 6 June.

A spokesman for Whyte said: "Craig has no comment to make on what is an internal matter for Rangers."

Meanwhile, another statement to the stock exchange read: "The board announces that Cairn Financial Advisers LLP has been appointed PLUS corporate adviser to the company with immediate effect."


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