Sir David Murray has announced he is to step down as board director and chairman of Rangers.

Murray will be succeeded by 61-year-old Alastair Johnson, a lifelong Rangers fan and director at Ibrox since 2004.

"For the last 20 years I have been actively involved in the club on an almost daily basis and I think that now is the right time to take a step back,” said Murray, who will remain the majority shareholder at the club.

"For me personally, it has been a tremendous honour and privilege to serve as chairman of Rangers.

"There have been so many great moments to savour and it is particularly gratifying to step down when the club are reigning SPL champions, Scottish Cup holders and about to embark on another exciting journey in the UEFA Champions League.

"I would also like to salute the countless Rangers fans around the world who have shown unwavering support for the club week in week out. They are the lifeblood of Rangers and many clubs would dearly like to have such a great support."