Dave King has stepped down as Rangers chairman, it has been confirmed.
The 64-year-old had first announced his intention to do so in November.
Upon completion of his final board meeting earlier this month, King has made way for Douglas Park on an interim basis.
He said in a statement: “I thank all of my colleagues for the time and effort they continue to devote to our club – particularly when they are all dealing with their own family and business concerns arising from coronavirus.
“It is unfortunate that my stepping down has coincided with the coronavirus crisis but I am relieved that our club has such stalwarts in place to deal with whatever comes our way.”
King added: “I considered the possibility of extending my time as chairman until the coronavirus crisis is over but that is not practically possible.
“After I returned to South Africa last week from the board meeting, I was mandated by the South African authorities to go into self-isolation for 14 days – which I am presently undergoing.”
King said a new round of funding, which the board had been close to finalising on March 14, has been put on hold.
On this issue of financial planning in the face of the coronavirus pandemic, King said: “In that regard we are no different from other football clubs and, indeed, the largest and smallest companies worldwide are all affected to varying degrees.”
He concluded: “In closing, I thank all supporters, club management and the board for the magnificent support I received while guiding the club post regime change to put that specific crisis behind the club.”