The businessmen to be nominated by the group of institutional investors, who hold around 28% of the company's shares, are Paul Murray, Malcolm Murray, Scott Murdoch and Alex Wilson.
Paul Murray, a chartered accountant with 25 years experience in private equity, was a non-executive director of the club from 2007 to 2011, when he resigned after Craig Whyte bought the club. Despite Whyte taking Rangers Football Club plc into administration, Paul Murray would not be prevented from returning to by the Scottish Football Association's fit and proper person criteria.
Malcolm Murray, a fund manager with 33 years experience in the City, was appointed non-executive chairman of Rangers last summer. Disputes with Charles Green, the former Ibrox chief executive, particularly over the level of corporate governance at the club, contributed to Murray stepping down earlier this year. He played a significant role in attracting institutional investors during the Initial Public Offering of shares in Rangers International Football Club last December, and it is those shareholders who are seeking to replace the current board at the AGM, which is expected to be held on October 24 or October 25 if the annual accounts are posted today.
Murdoch is the founder and managing partner of a global retail property advisory business, while Wilson held senior executive roles at Ford, Diageo and BT before retiring to focus on non-executive directorship and charity work. All four are lifelong fans.
It is also understood the shareholders will seek to appoint former Liverpool managing director Christian Purslow as interim chief executive. The current directors - Craig Mather, the chief executive, Brian Stockbridge, the finance director, Ian Hart, James Easdale and Bryan Smart - face re-election at the AGM, with 51% of votes cast required to pass motions.
The proposed new directors have no intention of raising funds by selling and leasing back the property assets, or to cull staff.