Both executives faced criticism from Rangers supporters following a weak start to the campaign, which resulted in manager Russell Martin being sacked in October after securing only one win in his first seven league games.

Former Manchester United chief executive Stewart joined Ibrox only in December, whereas Thelwell’s hiring was made public in April, although he did not begin his role until departing Everton at the conclusion of last season.

Rangers have since been acquired by a US-based group led by Andrew Cavenagh, who has appointed director Fraser Thornton as the interim chief executive while the club searches for successors to Stewart and Thelwell.

Under new manager Danny Rohl, Rangers have won four consecutive league matches but still trail Scottish Premiership leaders by nine points. Hearts.

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