Rangers have denied claims there has been major restructuring of the Ibrox boardroom, calling the speculation “absurd”.
It was reported on Monday that official documents had been lodged at Companies House which revealed Paul Murray, John Gilligan and Graeme Park had their appointments “terminated”.
This led to speculation that the trio had left the club altogether.
Rangers have since explained the move as a simple boardroom reshuffle, with Murray, Gilligan and Park carrying on with their duties at Ibrox.
There are two companies with control over Rangers. There is Rangers International Football Club PLC, which is the main board headed by Dave King, and there’s also The Rangers Football Club Ltd, which handles football operations day to day.
Murray, Gilligan and Park were on both boards until Monday’s notice. Because the RIFC board oversaw the work of the TRFC board, Rangers felt having directors in both camps made things unnecessarily complicated.
A source told the Daily Record: “Basically, this is no more than a tidying up of the club’s internal structure in the interest of sound corporate governance.
“It means there is a distinct line between the board of TRFC which will be made up entirely of executives and whose job it will be to run the club on a day-to-day basis.
“But the performance of these paid employees will in turn be monitored and judged by the directors on the RIFC board. It made little sense to have non-executive directors with a foot in both camps having to judge their own performances.
“The changes, while not essential, are in the best interests of the club’s corporate governance. To suggest this is part of some kind of dramatic restructuring of the boardroom would be quite frankly absurd.”