English businessman Craig Mather has been appointed interim chief executive of Rangers, replacing Charles Green.
Green, who took over as Ibrox chief executive in May 2012, announced his departure on Friday and is now the subject of an investigation ordered by the club's board regarding links to former club owner Craig Whyte.
Mather purchased a 10 percent share of the club last July, and has now been given a place on the Rangers board.
The 43-year-old, a former semi-professional footballer, owns a sports management firm and has interests in horse racing.
Mather said his decision to invest in the Glasgow club, who in March sealed the Scottish Third Division title following their demotion from the SPL for financial mismanagement, was an emotional one.
"I've been to a number of the Old Firm clashes and I remember as a younger boy having goosebumps listening to the roar," Mather said.
"I also have a sport-based company, Simply Sport Management who are purely youth-based talent development.
"My forte and future role with Rangers will be based on the youth development side so, spending more time at Murray Park (training ground) rather than the Ibrox side of the business.
"It's the first emotional investment I've made.
"It's long-term - who knows what's around the corner?"