Mark Taber, Andrew Clayton and Gene Schneur will change into new board members, with Patrick Stewart remaining as chief govt.
Present board members Fraser Thornton, John Halsted and George Taylor will keep on as Graeme Park, Julian Wolhardt and Alastair Johnston step down.
“We’re deeply grateful for the belief positioned in us by the Rangers board, shareholders, workers, and supporters,” Cavenagh stated.
“This membership’s historical past and traditions communicate for themselves, however historical past would not win matches. We all know that the true approach to honour the membership’s heritage shall be to drive efficiency.
“Our focus is straightforward: elevate efficiency, ship outcomes, and produce Rangers again to the place it belongs – on the high.”
Cavenagh and Marathe, president of 49ers Enterprises, “will oversee all features of the membership” with new sporting director Kevin Thelwell formally beginning his function on Monday.
Rangers are within the closing phases of their seek for a brand new supervisor, with departing Actual Madrid assistant Davide Ancelotti and former Southampton boss Russell Martin understood to be the main candidates.
“At 49ers Enterprises, we now have constructed a monitor report of sporting and enterprise success, however our driving motivation is our deep connection to the golf equipment and communities we serve,” stated Marathe.
“We’re excited to hitch Andrew and our different consortium of buyers in a brand new period for this iconic membership, and we’re decided to construct one thing that supporters might be happy with for years to come back.”
Chief govt Stewart stated: “From my earliest conversations with Paraag and Andrew, I’ve been excited and assured within the shared imaginative and prescient and what it may imply for the way forward for Rangers.”
Thornton added: “I additionally wish to acknowledge our main shareholders whose backing has introduced the membership so far, the overwhelming majority of whom have chosen to reinvest within the membership and proceed with us on the following stage of the journey.”
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