Johnston, vice-chairman of sports management company IMG, was officially unveiled to the media as the new Gers supremo at Ibrox.
The Scot, a lifelong supporter, has taken over the day-to-day running of the club from majority shareholder David Murray.
One of the first things many fans want to see him sort out is the future of Smith who is currently only under contract until January. And the 61-year-old Florida-based Glaswegian has stressed he has already been “encouraged” by his initial talks with the Rangers boss.
Johnston said: “The board of Rangers Football Club is committed to maintaining the management team that is in place and we are currently working towards that end. “This is the first time I have had a chances to sit down with Martin Bain and Walter personally since I was installed several weeks ago.
“But I have personally had lengthy discussions with Walter on philosophy, on background, on attitude, on ambitions, both corporate and personal.
“He has spoken to me about how we could work together in the future and how collaborative the decision making process would be.
“These very significant issues are very important to Walter and to me. It is not just the pounds and shillings attached to the contract with matter. I have been very encouraged.”
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