Rangers chairman David Somers has resigned from the board just days before a meeting that could see the current board removed.
The club confirmed his departure in a statement to the stock exchange this morning, with Somers also releasing his own statement.
"I have worked in the City of London, the world's greatest financial centre for decades and enjoyed considerable success." he said.
"When I was approached about the chairmanship of Rangers, friends warned me that the world of football has different rules and codes of behaviour."
"I now know that is a gross understatement."
"I am a non-confrontational man and have always tried to bring harmony to boardrooms and with stakeholders."
"At the risk of antagonising my army of critics, I would point out that Rangers managed to pay its bills and avoid going under during my tenure."
"These critics might not agree with how we achieved this."
"I look forward to alternative solutions from whoever is running the club in the future."
"Despite the personal attacks on me from various sources, I genuinely wish the club the very best in the future and I am confident that with such a passionate and vociferous fan base they will be restored to their former glories."
Somers follows fellow board member James Easdale who also resigned last week. The club are set to host an EGM later this week, which was called for by Dave King, who is looking to oust the current board.
The only members currently at the club, Barry Leach and Derek Llambias, were appointed at the behest of Newcastle owner Mike Ashley, whose company Sports Direct loaned the club £10m earlier this year to keep the club running.
It's unclear where this leaves Ashley and his position at the club, as he also currently has a 10% shareholder stake in the club.