Rangers chairman Dave King has announced at the club's AGM that he'll be stepping down in January.
The South African businessman took charge in 2015 and helped guide the team back to competing with rivals Celtic at the top of the Scottish Premiership.
Last month he was "heavily sanctioned" by the regulatory Takeover Panel for how he took control of the club.
King has told Sky Sports News that he feels the club is now in a stable enough condition to raise new funds via a share issue, after which he will step down.
"The crisis is now finally behind us and normal activities can resume.
"I would not step down if the club continued to need my services and support," he added. "But it doesn't.
"I thank all of our shareholders and fans for the absolutely magnificent support I have received.
"Despite the personal trials and tribulations, I want to state that being the chairman of Rangers has been, by far, the greatest privilege of my business life and I will continue to use my shareholding influence to support the club and its board.
"I have stated in public many times before, being chairman of Rangers is not an experience I have been able to enjoy. It always remained a duty."
