7th Nov 2013 13:03
LONDON (Alliance News) - Rangers International Football Club PLC has appointed David Somers as acting chairman and as an independent non-executive director, replacing Walter Smith who stepped down in August.
Rangers, now in the third tier of the Scottish Professional Football League after it fell into financial difficulty, said Somers has spend all his career in fund management and has experience in matters of corporate governance.
One of Somers's tasks will be to oversee the current process of appointing a chief executive and further independent non-executive directors to form a "unified board and provide stability" for the club.
"In order to allow time for the process outlined above to be progressed, the company will hold its annual general meeting on Thursday 19 December," the club said in a statement.
The stock was trading at 46.90 pence Thursday afternoon, down 0.10 pence or 0.2%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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