Scottish giants Rangers have confirmed that manager Alex McLeish with leave Ibrox at the end of the current season.
The Light Blues boss was given a stay of execution just before the New Year and the Glasgow club's Bank of Scotland Premier League form picked up.
But they lost 2-0 to Aberdeen last night, following an embarrassing 3-0 Tennent's Scottish Cup fourth round exit at the hands of Hibernian at Ibrox.
The SPL champions have slipped back into fourth place in the table, behind leaders Celtic, Hearts and Hibernian.
The Light Blues, who are still in the Champions League where they will face Villarreal in the last 16, are now 18 points behind their great rivals ahead of the third Old Firm clash of the season at Ibrox on Sunday.
Chairman David Murray told Rangers World: "The Manager's departure was agreed in early January as Alex believed that a four-and-a-half year term at the club was an appropriate period upon which to end his tenure.
"It had always been the board's intention to make this announcement after the Villarreal Champions League matches, in conjunction with other major changes that will have a significant impact, both in terms of new investment and personnel.
"However, in light of recent results and helpful discussions with various supporters' groups, directors and senior players, it was agreed that the announcement of the manager's departure should be made now.
Alex McLeish has enjoyed a highly successful period winning seven trophies over four-and-a-half years and during this time there has been significant financial constraints throughout the football environment in general.
"I also believe that, collectively, the club and the supporters together will play their part in success returning to Rangers Football Club."
