Rangers have parted company with manager Pedro Caixinha in the wake of Wednesday night's 1-1 draw with Kilmarnock.
Caixinha, who took over from Mark Warburton in March of this year, leaves with the Ibrox club fourth in the Ladbrokes Premiership table and having lost to Motherwell in Sunday's Betfred Cup semi-final at Hampden.
A statement on the Rangers website read: "The decision to part company with Pedro was taken after careful consideration and the search for a new manager will begin immediately.
“Pedro was appointed in March this year but results have been disappointing and not commensurate with the level of investment that was made available.
“Graeme Murty, head development squad coach, will take charge of the first team in the interim, just as he did earlier this year.
“The priority is to appoint a new manager as quickly as possible but the Board will take as much time as is necessary to secure the right person capable of representing Rangers and providing the brand of football supporters rightly expect.
“We thank Pedro and his backroom staff for their efforts and commitment and wish them well for the future."
Rangers' next match is against Hearts at Murrayfield on Saturday, live on Sky Sports with a 12.30pm kick-off.