Charles Green quits as Rangers chief exec

"Whilst Mr Green strenuously denies any wrongdoing, he has recognised that this negative publicity is a distraction and is detracting from the achievements and reputation of the club. 

"As a result, Mr Green has informed the board that he will leave his post with immediate effect and leave the company, following an orderly handover, by the end of May."

The statement added: "The board has commenced the search for a new chief executive and expects the role to attract high quality candidates from both within and outwith the industry. A further announcement will be made in due course."

Rangers chairman Malcolm Murray said: "Charles Green was instrumental in helping to secure financial stability for the club.

"The impact that he had in turning the club around from the dark days of last summer will never be forgotten by the fans who I am sure, like me, will thank him for this and for choosing to put the club ahead of his personal position at this time."

Green, who is understood to be in France, said: "Recent events have undoubtedly been a distraction for both myself and all involved with Rangers and I feel that it is appropriate that I step down so that the club can continue to progress back to where it belongs at the pinnacle of Scottish football. 

“I am very proud to have been associated with a club of the stature of Rangers and am proud of the achievements of the club during my tenure as chief executive. My thanks go to the Rangers fans, whose support has been tremendous during my time at the club."

Speaking at his pre-match press conference earlier today, ahead of tomorrow's visit of Peterhead, boss Ally McCoist was asked when he was last in contact with Green.

He said: "I haven't spoken to him verbally since last weekend but I've been in contact via emails and a couple of texts.

"As far as I know, he's in France having a well-earned break. I don't have any doubt we will meet up when he comes back.

"We've got a lot to discuss in taking the club forward in terms of players and pre-season training and all that stuff."

The Rangers board announced last week that they were to commission an independent investigation into Green and Imran Ahmad's management of the club and recent allegations in the media.

The probe was launched after the club's directors - including former boss Walter Smith - met at Murray Park last weekend.

The summit followed claims made by former owner Craig Whyte of his involvement with Green and commercial director Ahmad when their consortium completed the purchase of Rangers' business and assets last summer.

Green - who recently apologised after being charged by the Scottish Football Association for allegedly using "racist and offensive language" - rebutted the allegations by Whyte, who was in charge when the club plunged into administration and subsequently liquidation.

Green has come under intense recent scrutiny over the extent of Whyte's involvement when his group took control at Ibrox last year.

The club released a statement midway through last Saturday's game against Clyde, which read: "The board has announced today it is to commission an independent examination and report in view of recent allegations in the media concerning the chief executive, Charles Green, the commercial director, Imran Ahmad, and their management of the club.

"The decision to commission the examination was taken unanimously by those in attendance at today's meeting including non-executive and executive directors.

"The independent report will be commissioned and completed as speedily as possible and presented directly to the non-executive directors of the company.

"The chief executive will not be involved in the conduct of the examination.

"The board wishes to make clear that is not prejudging any of the issues involved and that the object of this exercise is to clarify the situation to the satisfaction of shareholders, supporters, staff and board members.

"Instructions recently given to lawyers in England and Scotland with a view to taking legal action to challenge these recent allegations will form part of the independent examination."

Green has been forced on to the defensive in recent weeks following allegations by Whyte, which were accompanied by taped recordings between himself and both the Rangers chief executive and Ahmad.

Whyte claimed he was behind the new company which bought the assets and business of the club when they were consigned to liquidation following his failure to pay tax.

Green then denied he had ever been Whyte's "front man" and claimed he and Ahmad had told him what he wanted to hear because they needed his co-operation to acquire shares if the club had secured a Company Voluntary Arrangement.

Green has cast doubt on the validity of documents which appeared to show he had signed off the appointment of Whyte and his associate Aidan Early as directors of Sevco 5088.

That was the company which bought the assets of Rangers for £5.5million in June last year, but they were transferred to a separate company, Sevco Scotland, days later.

Whyte, who received a life ban from the SFA, alleges this was illegal and has threatened court action against Green.

Green released a statement which read: "These documents are not correct or valid and he did not sign Craig Whyte or his associate on as directors of Sevco 5088.

"Mr Green was the sole director of Sevco 5088 until he resigned and became the founder director of Sevco Scotland, formed by Scottish solicitors."

The statement added: "Furthermore, it should strike people as deeply suspicious that these documents are being filed today 11 months after they were supposedly signed and on other documents Mr Green's home address has been mysteriously changed without his knowledge.

"Furthermore, notice was filed publicly in January this year by Field Fisher Waterhouse and is on record at Companies House company seeking to strike off the company, yet four month later directors appointments are now being supposedly filed.

"As stated previously these matters are now in the hands of lawyers who are preparing a file to be sent to Police Scotland and Mr Green cannot comment further on the details of that process."

Rangers also revealed last week that Green had "apologised unreservedly to board members and the wider Rangers support for any offence caused by remarks he made in an interview last week regarding Imran Ahmad".

Green had revealed in a newspaper interview that he regularly greeted Ahmad as his "Paki friend" before dismissing criticism from Show Racism the Red Card as a "knee-jerk reaction" and stressing he deplored racism.

He apologised days later after being issued with an SFA notice of complaint.

Saturday's Rangers statement added: "Mr Green told the board that in trying to make a point in the interview that, as chief executive, he would not countenance any form of prejudice towards employees or players at the club, he had exercised poor judgement in the words he chose. He apologised.

"The board accepted the explanation that there had been no intention to cause offence and accepted the chief executive's apology.

"The board is satisfied that the chief executive did not act in a racist manner but reminded him of the importance of all office bearers at Rangers upholding the standards expected by the club.

"Mr Green will deal with the pending SFA charge on this matter on a personal basis.

"The board wishes to re-iterate Rangers is a club which is opposed to all forms of prejudice and has a long-established policy of working extensively in the community through a variety of programmes and initiatives to tackle issues such as racism and sectarianism."