Rangers manager Paul Le Guen has left the club by mutual consent.
“Rangers Football Club announced by mutual agreement with manager Paul Le Guen that he will relinquish his position as manager of the first team with immediate effect,” said a statement on the club’s official website on Thursday.
Chairman David Murray said: “Having met with Paul it was clear that in the interests of the club we agreed jointly to him stepping down as manager.”
“We are all clearly disappointed with our current circumstances and will now focus on securing a suitable replacement,” added Murray.
“I would like to wish Paul and his management team well in the future.”
Le Guen added: “I am disappointed to leave the club, but I think it is the best solution for all concerned.
“I would like to thank all the people who helped me and my team during my spell in Scotland.
“In particular I would like to thank the directors who at all times gave me their total support.”
Matters appear to have reached a head this week following the decision by the former Lyon coach to strip Barry Ferguson of the captaincy after claiming the player was undermining him in the dressing room.
Le Guen has only been in charge at Ibrox for seven months – the shortest reign in the club’s history – but his position has been under threat following Rangers’ poor start to the season.
Reserve-team coach Ian Durrant will take charge of training on Friday before Sunday’s Scottish Cup tie against Dunfermline.