Celtic have confirmed that Dr John Reid is to stand down as chairman later this year.
Chairman to leave later this year and be replaced by Bankier
Celtic have confirmed that Dr John Reid is to stand down as chairman later this year.
Reid will quit the role, and that of director, after four years at the Company's annual general meeting.
Ian Bankier is set to join the Board as a non-executive director and as chairman designate.
Speaking on the club's
official website, Reid was confident he was leaving the club in a strong position.
He said: "It has been an honour to have been chairman of this great club for the past four years.
Challenging period
"I will always be grateful for the support, encouragement and friendship I have received from Dermot Desmond and my colleagues on the board, the management and staff and, above all, the greatest supporters any club chairman could wish. That is something I will forever value.
"We have come through a challenging period, but I believe we have come through stronger than ever. We now have in place a new, young talented managerial team led by Neil Lennon and capable of great things.
"Equally, we have recruited and shaped a new, young and talented squad whose promise for the future we have only begun to glimpse.
Bankier, 59, is executive chairman of Glenkeir Whiskies Limited, a company he substantially owns and which operates The Whisky Shop chain.
He has been involved in the Scotch whisky industry for 15 years and previously worked as solicitor, specialising in corporate law.
Positive
Bankier said: "I was brought up in Glasgow, and have spent much of my career here and in Scotland. As a long-standing supporter of the club I feel very privileged to be invited not only to join the Board of Celtic, but later to become its chairman.
"I am looking forward to it tremendously and hope that my own contributions to the future success and well-being of this extraordinary club will be as positive and beneficial as those of my predecessors."
Celtic manager Lennon paid tribute to outgoing chairman Reid, as he said: "I have benefited enormously from an excellent relationship with the chairman in my short time as Celtic manager.
"He has provided me with great support and valuable guidance through some very difficult times.
"He has been a passionate advocate for the club and the team, and we all wish him well."
