Credit: Imago

Rahul Lakhani

Sun 21 September 2025 7:57, UK

Rangers fans are unhappy with the way the club is being run and fingers are being pointed towards the club hierarchy.

A takeover of the club in the summer of 2025 saw a consortium led by Andrew Cavenagh and 49ers Enterprises become majority shareholders of Rangers.

This in turn saw them hire Kevin Thelwell as sporting director, Gretar Steinsson as technical director and Russell Martin as manager, but this has proved to be a disaster.

Fans were enraged at Martin and Patrick Stewart’s running of the club with protests against the pair, and the rest of the Rangers board are all constantly under the microscope.

Rangers key board members

Above Thelwell, Martin and Steinsson’s heads are the Rangers owners and board, which consists of nine members, with three figureheads standing above the rest.

The chairman, vice-chairman and CEO are all well known to Rangers fans, and are the three leading members of the board.

Cavenagh is the chairman, and joined Rangers in the summer of 2025 after completing a takeover of the club.

• Cavenagh and his consortium purchased a 51 per cent stake into Rangers, and is now the chairman and figurehead of Rangers.
• He is also executive chairman of ParetoHealth, and is permanently based in Pennsylvania.

Marathe is the vice-chairman, and joined alongside Cavenagh as part of the takeover.

• Marathe is the chairman of Leeds United and 49ers Enterprises.
• He initially joined Leeds in 2018, before becoming chairman in 2023 after a takeover was completed.

Stewart joined Rangers in November 2024, after 18 years at Manchester United in a variety of roles, and was their interim CEO before taking up the same position at Ibrox.

• Stewart joined Man United in 2006, and became a board member in 2019.
• He helped create their women’s team, and has also been a member of different groups within the Premier League, FA and European Club Association.

Aside from these three, there are six other board members, who are all lesser known.

• Read more: Russell Martin simply doesn’t get it after what he’s said about Rangers backlash

Rangers’ other board members

Fraser Thornton was raised in Glasgow, graduating from the University of Stirling, before spending 30 years working in the International drinks industry.

• Since 2021, Thornton has held several different non-executive roles in Scottish corporations.
• Thornton joined Rangers in December 2024 as a Chair, alongside Stewart, and has sat on the board since.

John Halstead is a Wyoming based investor who helped found Pamplona Capital Partners.

• Halstead joined Rangers in 2021 as an investor through Perron Investments LLC, his parent’s company.
• He now serves as director of RIFC PLC (Rangers International Football Club PLC), and he is estimated to be worth over £1.5 billion.

George Taylor is a non-executive director of RIFC PLC, a role he has held since 2022.

• Taylor is a British investment banker who is currently based in Hong Kong.
• He has held roles at Morgan Stanley and is also on the board at Asia Pacific.

Eugene Schneur is a co-owner and board member of Leeds United, and joined Rangers alongside the 49ers Enterprises consortium.

• Schneur was the managing director and co-founder of SBV RE Investments LLC and Omni New York LLC, which focus on affordable housing developments in the USA.
• He is currently based in Florida, and his companies’ transaction value exceeds £2.5bn.

Andrew Clayton joined alongside Cavenagh, and is also co-founder and vice-chairman of ParetoHealth. He is based in Philadelphia, and has extensive background in the insurance industry.

Mark Taber is managing director at Great Hill Partners, an equity firm based in Boston.

• Taber is also on the board of numerous healthcare companies.
• He joined Rangers as part of Cavenagh’s consortium when the takeover was completed.

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