Rangers Football Club confirmed on Monday it has “parted company” with CEO Patrick Stewart and Sporting Director Kevin Thelwell.
“Rangers expresses its sincere gratitude to both Patrick and Kevin for their leadership and unwavering commitment to the club,” said Rangers.
“Chairman Andrew Cavenagh and Vice Chairman Paraag Marathe have already begun the search process and, until permanent hires are made, Director Fraser Thornton will assume the role of acting CEO.”
In May 2025, Rangers announced that a consortium of investors, led by healthcare tycoon Andrew Cavenagh and 49ers Enterprises, purchased a majority stake in the club, with approval from the Scottish FA.
49ers Enterprises, the NFL team’s investment business, also owns Leeds United.
Cavenagh said in a statement: “We’ve now had six months since we became part of Rangers to assess the club’s needs as well as to get to know Patrick and Kev a bit more.
“And, simply put, when we think about what we need in both a CEO and sporting director today, it’s different than who we think Patrick and Kev are.
“We want people that align with the vision for the next chapter”
Cavenagh added: “I think very highly of them both on personal and professional levels. It’s just the reality that the club needs different things today than it did six months ago.
“We have already started the hiring process and hope to have appointments soon, but we will prioritise quality and fit over speed.
“Change like this is always painful, especially when it involves people we care about.
“But, at the same time, we’re very excited about this opportunity to bring in fresh leadership to this great club.”
Last November, Rangers announced the appointment of Stewart as its CEO.
Stewart joined Rangers having most recently been interim CEO at Manchester United. He spent 18 years at Old Trafford.
Raised in Aberdeen, Stewart graduated from the University of Glasgow and worked initially as a lawyer in Scotland before joining TEAM Marketing, the agency responsible for UEFA club competitions, in 2001.
He then moved to Manchester United in 2006 as General Counsel and Company Secretary, and had responsibility for all legal and regulatory matters, with his role evolving to include commercial and operational matters.
In 2019, Stewart joined the board of Manchester United, with further responsibilities including negotiating player contracts and co-leading on the creation of their professional women’s team.
In 2022, he became an executive director of Manchester United’s New York Stock Exchange-listed parent and his role grew further to include managing the club’s relationships with the English FA, the English Premier League and UEFA.