Craig Mather resigns as Rangers chief executive with 'immediate effect' Craig Mather has resigned as the chief executive of Rangers with "immediate effect." An announcement was posted on the London Stock Exchange on Wednesday morning, saying that non-executive member Bryan Smart had also stood down. Mr Mather said he is leaving his post with Rangers International Football Club plc "in attempt to help calm speculation" over leadership at Rangers after a long-running boardroom battle. The company is now looking for new members of the board to be put up for election at the annual general meeting, which has been postponed from its intended date of October 24 after opposition shareholders successful took Rangers International to court. On Monday former oldco director Paul Murray and ex-Rangers International chairman Malcolm Murray were granted an interdict to postpone the meeting after the current board refused their attempt to put themselves and two others - Alex Wilson and Scott Murdoch - up for election to be appointed directors. Rangers said in the stock exchange statement: "The company announces that, by mutual consent, the chief executive, Craig Mather, has resigned from the company with immediate effect. The company also announces that non-executive director Bryan Smart has resigned from the board with immediate effect. The directors would like to thank both Craig and Bryan for their contributions to the club. As a matter of priority, the company, working with its advisers, will now seek to strengthen the board, both to meet the standards required for an AIM company, and to achieve stability through a consensus amongst major shareholders, which can then be considered by all shareholders at the annual general meeting. In an announcement on the Rangers website, Mr Mather said he regretted the leadership battles at the club but is leaving the company in good shape. He stated: "The interests of the club are of paramount importance and I believe these are best served by me leaving the club. Despite recent events and speculation, the facts of the matter are that the club is financially secure and in a far better place than it was a year ago. Unlike most football clubs Rangers has money in the bank, no borrowings and this season we have assembled a squad which is capable of progressing through the leagues. My short tenure as chief executive has been beset by incessant attempts to destabilise the operations of the club, all done supposedly in the interests of Rangers. I had real faith in the rebuilding of Rangers and invested significantly in the club. Sadly, those who have been most active in upsetting the very good progress we have been making were not willing to do the same. I leave with my head held high and will remain as a shareholder and a supporter of Ally and his team. Last month Rangers International returned its first annual results which showed that for the 13-month period until June this year it ran at a operating loss of £14.3m after generating turnover of £19m amid costs of over £33m. Paul and Malcolm Murray prevented the annual general meeting from going ahead after taking Rangers International to the Court of Session this week, where Lord Tyre agreed that the resolution they had lodged to appoint directors at the event was valid. The board had rejected it, citing issued with the signatures of three shareholders - Hargreaves Lansdown, Bank of New York and Singer Nominees - but the judge found the resolution to elect the Murrays and two other associates to the board should be considered. Mr Mather invested in the newco last July, when he claimed he paid £1m to purchase a 3.1% stake in the company. The 42-year-old was made director of sports development at Rangers last October as he founded Leicestershire-based Simply Sport Management, which states on its website that it focuses on representing young and aspiring sports people. Mr Mather is also managing director and majority shareholder of Simply Cartons Limited, a packaging firm he set up with his friend and business associate Guy Gisborne in 2006. The Nottingham-based firm describes itself as "UK's most innovative carton manufacturer" and includes chocolate firm Thorntons and supermarket Tesco among its clients. He was initially appointed interim chief executive of Rangers International in April this year after Charles Green stood down amid revelations relating to his links with previous Rangers oldco owner Craig Whyte. Mr Mather's appointment was made permanent in July this year when he said it was a "great privilege" to take the job.