Ashley’s man Llambias takes executive role
RANGERS yesterday confirmed Derek Llambias as their new chief executive in a move that further cements Mike Ashley’s position at Ibrox.
The former Newcastle United managing director was initially appointed to the Rangers board as a non- executive director early last month, a week or so after Ashley made a £ 2million l oan to t he strife-torn club. It had been widely expected that he would step forward as Graham Wallace’s replacement.
The SFA issued notices of complaint against Rangers and Ashley earlier this week, alleging breaches of an undertaking about his influence on the day-to- day running of the club. A hearing will take place on January 27.
However, that pending case has not prevented Ashley’s ally Llambias being selected for a key Ibrox post. And it has also been reported that Ashley could underwrite a share issue in the New Year to aid barren club finances. The Newcastle United owner i s currently limited to a 10-per-cent stake by an agreement with the SFA but could push for that to be raised to 29.9 per cent.
The ap po in t me n t of Llambias, ahead of Monday’s potentially stormy annual general meeting, means chairman David Somers will return to his previous role of non-executive chairman.
‘I am delighted that Derek has agreed to step up to the chief executive role,’ said Somers.
‘This is a successful outcome to the process, announced on October 27, 2014, where we interviewed a number of high-calibre candidates.
‘Derek has impressed us with his grasp of the issues since joining the group and brings great experience, particularly from his time at Newcastle United , which we feel confident will be invaluable to Rangers.’
The Stock Exchange release also added that ‘in line with the cost- cutting exercise announced on November 12, 2014, Mr Llambias’ salary will be significantly lower than previously offered for this position.’
No specific f i gures were of f ered but predecessor Wallace was on a £315,000 salary with the possibility of a 100-per-cent bonus.
Newcastle United manager Alan Pardew yesterday backed Llambias in his Ibrox role.
‘He took this club when it was paying a lot of money that was going to waste, which ended up with a relegation, and then managed to get them promoted again,’ said Pardew.
‘He was a big part of that and he will bring that experience to Rangers.’
The St James’ Park boss added that Llambias helped to stabilise the Premier League outfit during his time there.
‘In the position Rangers are in at t he moment, he’s probably well-armed to do that,’ said Pardew.
‘ Derek i s an experienced chief executive. I wish him good luck.’
Ll a mbias has already overseen an analysis of various departments at Rangers which has seen a number of staff, some of them long- serving, made redundant.
It is thought that process was one of the factors which took its toll on manager Ally McCoist, who handed in his resignation notice last week.
McCoist met with Llambias and Sandy Easdale, chairman of the f ootball board, on Wednesday for talks about his position. It had been speculated that the Ibrox boss would be offered a pay-off deal for his 12-month notice period but instead it emerged that he would continue for today’s game against Livingston.
‘I spoke to him (Llambias) before training,’ said McCoist yesterday. ‘ Obviously I congratulated him on his new role. We’ll hopefully get a chance to sit down in the not- too- distant f uture to discuss plans for the team.’
It remains to be seen whether McCoist’s situation will change once the AGM is over, as a clearer financial path forward could open the way for a deal to be struck.
The 52-year-old’s presence at the club could also act as a diversionary tactic for a board set to face flak from the floor, but McCoist is unclear about whether he will actually attend the meeting.
Asked if he had been requested to address shareholders, McCoist said: ‘I haven’t. I addressed them last year but I’m not even sure I’m going on Monday.
‘That’s something we’ve yet to discuss. I’m more than willing to be there but if I’m not there it won’t be for any sinister reasons.
‘If I’m asked to be there and I’m asked to speak then I will.
‘I’m not fussed either way, but if people want me there then absolutely I’ll be there doing my job.
‘I’ve not thought about the AGM, there’s been so much going on. It’s been a heck of a week and I’ve just been trying to concentrate on training, which has been great.’