George Letham, the last of the Three Bears inside Ibrox has been booted off the Board of Directors in a trademark Friday evening move.
Alongside Dave King and Paul Murray, Letham masterminded the 2015 takeover of the company with Douglas Park in a background role.
In January of this year Letham was promoted onto the board of directors but with losses running at £2m a month he has been removed just 10 days after the company AGM.
PR Guru David Graham and Kenneth Barclay have joined the board of directors.
CLICK HERE for board changes.
Rangers have binned George Letham, their 6th largest shareholder, as a director. Letham was one of the 3 Bears who bought RIFC shares in late 2014. He has put in £4.25m that he’ll likely never see again. @Heavidor pic.twitter.com/2rGBae0gUN
— GrandOLTeam (@JBLuvsCeltic) December 10, 2021
Murray was the first of the bears to quit as a director, walking away in May 2018 shortly before the appointment of Steven Gerrard as manager.
King stepped down as chairman and director in March 2020 and is desperately trying to sell his shares to fan group Club 1872.
There does seem to be a lot of activity around the boardroom at the moment, despite recording losses of £23.5m for the year to 30 June 2021 Stewart Robertson reassured shareholders that the club will be in profit during the 2022/23 season with no need to sell players in January 2022.