- Scottish Third Division
Green quits Rangers post
Charles Green has strenuously denied any wrongdoing after offering his resignation as chief executive of Rangers.
The Ibrox chief informed the board of his intention to step down from the role following recent allegations by former owner Craig Whyte that he was involved in Green's acquisition of the club last summer.
Green - whose consortium purchased the business and assets of Rangers for £5.5million after liquidation was confirmed - has refuted the claims by Whyte, who was in charge when the club plunged into administration last February.
The Rangers board last week commissioned an independent investigation into the running of the club by Green and commercial director Imran Ahmad in light of the allegations.
A statement to the Stock Exchange confirmed: "The Company announces that Charles Green has notified the Board that he wishes to step down as Chief Executive with immediate effect.
"Recent weeks have seen media interest in the circumstances surrounding the period prior to the acquisition of The Club by the consortium led by Mr Green.
"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 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.''
Green - who recently apologised after being charged by the Scottish Football Association for allegedly using "racist and offensive language'' - felt it was in the best interests of the club to leave his position.
"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," Green said.
"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.''
Rangers raised more than £22million through a share issue in December, following Green's canvassing of potential investors, and chairman Malcolm Murray paid tribute to his time at the Ibrox helm.
"Charles Green was instrumental in helping to secure financial stability for The Club," Murray said. "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.''