Rangers have parted company with Graeme Murty, who has been interim manager at Ibrox since Pedro Caixinha was sacked in October.
Murty was on contract until the end of the season, at which point Dave King and the Rangers board would decide whether or not Murty would stay on, but this decision has been made prematurely.
Many names have been linked with the Ibrox job, including former Gers player Derek McInnes and Liverpool legend Steven Gerrard.
Murty throughout the season expressed interest in getting the job on a permanent basis, and many performances backed him up, but ultimately it was not to be.
He was relieved of his duties following the 5-0 loss at Celtic Park, which handed Old Firm rivals Celtic their seventh consecutive Scottish Premiership title.
Rangers said
He will take some time to consider his options, which include returning to his role at the Rangers academy.
Rangers are grateful to Graeme, who did not hesitate when asked last October to become interim manager after the departure of Pedro Caixinha.
The club hopes to be in a position to comment further on the managerial situation in the near future.
Rangers have three games to go, a home game against Kilmarnock and two away trips to Aberdeen and Hibernian to try and steal second place off the Dons, which Jimmy Nicholl and Jonatan Johansson will oversee.
