Rangers have announced that John Bennett is to step down as the club's chairman with immediate effect due to health reasons. 

John Gilligan, a former director at the club, will temporarily fulfil the role of Chairman until a permanent replacement is appointed.

A club statement read: "The Board of Rangers Football Club today announces Chairman, John Bennett, is stepping down with immediate effect for health reasons.

"The Board wants to sincerely thank John for his service and significant commitment over the last nine years and wishes him a full and speedy recovery. It is requested his and his family’s privacy is respected at this time.

"Former Director, John Gilligan, will temporarily fulfil the role of Chairman until a permanent replacement is appointed.

John Bennett with ex-Rangers CEO James Bisgrove (Image: Rob Casey - SNS Group) "The Board thanks John for stepping in at short notice and believes his experience in senior business roles throughout a long and successful career, and also, as a former Director of Rangers, will be invaluable at this time.

"The Board is undertaking a robust process with the help of professional advisors to fill the roles of CEO and Chairperson. In the meantime, the club’s executive management team will continue to lead the club on a day-to-day basis."

Bennett stepped up to replace Douglas Park as chairman in April last year. Park held the position during Rangers’ 55th title win and the run to Seville after he succeeded Dave King at the end of his long stint as the major boardroom voice and investor.

King told the Rangers Review last week that Bennett was ‘devastated’ by a chain of events that left the board under increasing pressure. The South Africa-based businessman has previously backed Bennett to lead Rangers.

“Our Club finds itself in a largely self-inflicted decline but turning on our own players is not the Rangers way,” King said as he also called out the supporters who had directed their anger at captain James Tavernier in the aftermath of the Old Firm defeat to Celtic. “I know John Bennett is devastated by current events and is working immensely hard behind the scenes. We have a challenging period ahead and need to pull together to get through it.”

The Rangers Review understands Bennett remains a supportive shareholder and a significant investor but it is highly unlikely he will return to the Board.