LONDON (Alliance News) - Rangers International Football Club PLC on Thursday said it has appointed an interim executive chairman, having seen its chief executive officer depart on Monday to meet the demands of Sports Direct International PLC chief Mike Ashley.
Rangers said Non-Executive Chairman David Somers is to become the executive chairman of the company and will oversee the recruitment of a new chief executive and finance director.
Rangers received a notice dated October 7 from Ashley that stated his investment vehicle MASH Holdings Ltd holds nearly 4.3 million Rangers shares, equating to 5% of the voting rights. In the notice, MASH "required" that Rangers call a shareholder meeting for a vote on the removal of Chief Executive Graham Wallace and Executive Director Philip Nash.
Rangers shares were up 2.2% to 20.95 pence on Thursday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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