Derek Llambias has been appointed the new chief executive of Glasgow Rangers; the club confirmed the appointment in a statement to the London Stock Exchange.
Llambias a close friend of Mike Ashley who has 8.9% stake in the Scottish club was previously the Managing Director of Premier League club Newcastle United.
The appointment means that David Somers will now revert to being the non-executive Chairman.
This is what Somers had to say on the appointment, "I am delighted that Derek has agreed to step up to the Chief Executive role.
"This is a successful outcome to the process, announced on 27 October 2014, which involved interviewing a number of high calibre candidates.
"Derek has impressed us with his grasp of the issues since joining the group and brings a wealth of
experience, particularly from his time at Newcastle United, which we feel confident will be invaluable to Rangers."
The appointment means that David Somers will now revert to being the non-executive Chairman.
This is what Somers had to say on the appointment, "I am delighted that Derek has agreed to step up to the Chief Executive role.
"This is a successful outcome to the process, announced on 27 October 2014, which involved interviewing a number of high calibre candidates.
"Derek has impressed us with his grasp of the issues since joining the group and brings a wealth of
experience, particularly from his time at Newcastle United, which we feel confident will be invaluable to Rangers."
Writer: Himanshu Dhingra
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