Carrying out the role since 2015, King will soon vacate the role as he aims to focus his attention more on his own personal businesses, while he believes the club is now in a suitable place for him to move on.
Speaking to RangersTV following this morning’s AGM at the Clyde Auditorium, King explained: “I have done it for two reasons. One is it suits me now in terms of my personal circumstances and business interests in South Africa, and where I want to spend some more time.
“But it could only be married to a time where I thought the club had the right management structure in place and the right funding in place.
“So I think the timing is very, very good and it is a credit to the club that it is now in a position where I feel, still as the major shareholder, that I am able to step down and not have to oversee that at such a micro level.
“It was a difficult decision – the emotional part of it was probably more difficult. Logically and intellectually, when I got involved in the club the timing wasn’t really good at that point in time and it was more a duty and I felt if it was something I didn’t do, it wasn’t going to get done.
“It just seems to me the timing is right – but yes, to actually get to the point and say the timing is right and then go through the process of ‘separation’ if I can put it that way, it was quite emotional.”
King mentioned in his earlier speech a new structure had been agreed for running the club, and continued: “We have a new team in there completely and I have spent time with them. I made the comment that this is the best management team – I have been involved in the club for 20 years and this is the strongest team we have got.
“Do what most companies normally do and give a budget or a plan, and once we agree and approve it, go ahead and just run it yourselves – we actually trust you guys to get on and run the business.
“We are now going back to a more natural structure which is to trust your executives and let them get on with an improved financial plan.”