Martin Bain has resigned from his position as chief executive at Scottish champions Rangers.
Chief executive quits post and vows to take legal action against Gers
Martin Bain has resigned from his position as chief executive at Scottish champions Rangers.
The Gers claimed their 54th Scottish title last season, despite the protracted boardroom uncertainty which preceeded Craig Whyte's takeover from former owner David Murray.
A statement from the Ibrox outfit read: "The board announces that Martin Bain has resigned as a director and employee of the company with immediate effect."
Bain revealed earlier this week that he had instructed his lawyers to open legal proceedings against his former employers.
He said: "I would like to thank everyone for their messages of support and for those in the wider Rangers family who have expressed their disappointment in the way my situation has been dealt with.
"Serving RFC (Rangers Football Club) for the last 15 years has been a privilege and although we have had tough times I have always had the loyal support of our fans and supporters.
Not pleasant
"It was not pleasant for me or my family to read in newspapers that I had been replaced and never to return to the club I have served with pride.
"However, I will now hand matters over to my legal advisors.
"Those responsible will have the opportunity to explain what they have done and why in court."
Bain and fellow director Donald McIntyre were suspended by the club last month pending an internal inquiry.
That development had followed the removal from the Ibrox board of chairman Alastair Johnston and director Paul Murray in the wake of Whyte's takeover.
