Glasgow Rangers have appointed Mike Ashley ally Derek Llambias as the club's chief executive.
Llambias previously worked under Ashley at Newcastle United, where he was managing director.
Non-executive chairman David Somers said: "I am delighted that Derek has agreed to step up to the Chief Executive role.
"This is a successful outcome to the process, announced on 27 October 2014, which involved interviewing a number of high calibre candidates.
"Derek has impressed us with his grasp of the issues since joining the group and brings a wealth of experience, particularly from his time at Newcastle United, which we feel confident will be invaluable to Rangers."
Ally McCoist has resigned as Rangers manager, the Scottish club have announced to the Stock Exchange.
A statement on Monday morning said he had tendered his resignation after days of rumour.
A 12-month notice period has now been triggered, with the club saying they will now hold talks with their record scorer.
Former Rangers owner Craig Whyte has been granted bail after appearing at Glasgow Sheriff Court accused of fraud.
He made no plea or declaration and was released on bail.
Whyte appeared in private at Glasgow Sheriff Court after arriving in the UK having been detained in Mexico.
An arrest warrant was issued a fortnight ago for the 43-year-old in connection with an investigation into the sale of Rangers Football Club in 2011.
Former Rangers owner Craig Whyte has been arrested in Mexico, according to reports.
An arrest warrant was issued in October relating to his involvement in the sale of Rangers back in 2011.
Four men appeared in court earlier this month charged with fraudulent activity in connection to the sale of the club.
Gary Withey, 50, David Whitehouse, 49, Paul Clark, 50, and David Grier, 53, were granted bail following a hearing at Glasgow Sheriff Court.
Whyte failed to show for his court appearance at Royal Courts of Justice in London, with an arrest warrant subsequently issued.
Former Newcastle and Glasgow Rangers striker Peter Lovenkrands has announced his retirement from playing football.
The 34 year-old last played for Birmingham City in the Championship, where he scored one goal in 15 games.
He won the Scottish Premier League twice and the Scottish Cup three times with Rangers, and helped Newcastle to the Championship title in 2009.