The Danish national bought a 4.5 per cent stake in the club from Mike Ashley in June 2017.
His appointment comes ten days before a general meeting is held over a proposed share issue.
Wolhardt is chief operating officer of Hong Kong-based Dehong Capital Partners. He was married in Scotland and previously worked for Asian Investment firm KKR when it bought a large stake in German side Hertha Berlin
Speaking when he bought his shareholding, Wolhardt said: “I have a long held love for Scotland and football and I am keen to see Rangers FC unlock its considerable commercial potential.”
Chairman Dave King claimed at the time that Wolhardt’s decision to invest was “exciting” for the club.
Meanwhile, Rangers’ Russian Europa League opponents, Ufa, have confirmed they have secured the necessary visas to travel for their play-off first leg at Ibrox tomorrow following reports they might struggle to complete the process in time.