Suspended Rangers chairman Sandy Easdale has stepped down from the football club's board.
In a statement, the Ibrox club announced that its dispute with the bus tycoon, who had been suspended along with Derek Llambias and Barry Leach, has been resolved amicably.
The trio had been out in the cold while a resolution was prepared that aims to remove them as directors following Dave King's victory at the EGM.
The fate of Llambias, the chief executive and Leach, the finance director, who are both associates of shareholder Mike Ashley, remain unclear.
It said: "The Rangers Football Club Limited confirms that matters have been resolved with Sandy Easdale on an amicable basis.
"Mr Easdale has agreed to resign from his directorships with the Group with immediate effect and he does so wishing the Club, its supporters and the new board every success for the future.
"The club thanks Mr Easdale for his co-operation in this changeover and confirms the investigation previously referred to will not now proceed.
"The club is also happy to confirm that Mr Easdale did not receive any remuneration in respect of the directorships he held with the club."
Former chief executive Llambias and finance director Leach exited The Rangers Football Club plc board as directors after a landslide victory by Dave King and his allies at an extraordinary general meeting on Friday.
King managed to obtain around 85 per cent of the vote to support his Ibrox revolution at the club's EGM which saw Paul Murray, Douglas Park, John Gilligan appointed to the football club's board.
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