Rangers have confirmed the appointment of Craig Mather as interim chief executive in a statement to the London Stock Exchange.

The 42-year-old is a shareholder and has been the club’s director of sports development since October.

He will hold the position until the Irn-Bru Third Division outfit appoint a permanent replacement for Charles Green, who resigned as chief executive with immediate effect last week.

A statement to the Stock Exchange confirmed: “Rangers announces that the Board has appointed Craig Mather, aged 42, to the role of Chief Operating Officer for the Group.

In addition, Craig will act as interim Chief Executive Officer and will be a member of the Board as the interim Chief Executive Officer.

“In the meanwhile the search for a permanent replacement for Charles Green will continue and a further announcement will be made as appropriate.”

Rangers Mather invested in Rangers prior to its initial public offering in 2012 and holds 3.1 per cent of the Company’s shares in issue.

His other business interests include a sports management firm and a packaging company. He replaces Green, who became chief executive of Rangers last summer when his consortium purchased the business and assets after the club was consigned to liquidation following a period of administration.

Green announced on Friday he would be stepping down from the role amid claims by former owner Craig Whyte — who was at the helm when administrators were called in — that he was involved in the Green consortium's acquisition of Rangers.

The allegations prompted the Ibrox board to confirm plans to commission an independent investigation the week before Green’s resignation, with law firm Pinsent Masons subsequently appointed to conduct the main investigation and Deloitte’s forensic department also involved with the probe.

Green has denied any wrongdoing but felt his departure was in the best interests of Rangers after recognising the “negative publicity” was “detracting from the achievements and reputation of the club”.