Rangers have announced that they have parted company with manager Michael Beale after just 10 months in charge.
The 43-year-old left his role in charge of Championship club Queens Park Rangers in November last year to replace Giovanni van Bronckhorst in the Ibrox hotseat.
Beale won 22 of his first 28 matches as Rangers boss in all competitions last season, although the Gers ultimately ended the campaign trophyless and finished second in the Scottish Premiership behind champions and Old Firm rivals Celtic.
In an attempt to return to the summit of Scottish football, Beale oversaw a significant overhaul of the first-team squad during the summer transfer window, with around £15m spent on nine new players and 14 departing either on a permanent basis or on loan.
However, Beale's new-look squad have failed to make the desired impact in the early stages of this season, with a heavy 7-3 defeat to PSV Eindhoven in Champions League qualifying and a Premiership loss to Kilmarnock on the opening weekend mounting early pressure on the Gers boss.
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A 1-0 home defeat to Celtic followed, before a run of four successive wins without reply seemed to steady the ship, but Rangers' latest setback - a 3-1 home loss to Aberdeen on Saturday - proved to be the final nail in Beale's coffin, just two-and-a-half weeks after the Englishman stated that he had assurances over his future at the club.
Rangers have confirmed that coaches Neil Banfield, Damian Matthew, Harry Watling and Jack Ade have all had their contracts terminated along with Beale.
The Glaswegian giants have also announced that 38-year-old midfielder Steven Davis "will lead the interim management team" consisting of Alex Rae, Steven Smith, Brian Gilmour and Colin Stewart.
A statement on Rangers' official website read: "Rangers Football Club can confirm it has parted company with men's first-team manager, Michael Beale.
"The Rangers board would like to put on record their thanks to Michael and his staff for their efforts since joining the club last November.
"Results this season have fallen short of what everyone connected to Rangers would expect.
"Therefore, the decision was reached today to terminate the contract of the manager, as well as the contracts of coaches Neil Banfield, Damian Matthew, Harry Watling and Jack Ade.
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"The club is pleased to announce that Steven Davis will lead the interim management team.
"The team will consist of former Rangers player and hugely experienced coach Alex Rae, former Rangers player and current coach Steven Smith, coach Brian Gilmour, and goalkeeping coach, Colin Stewart."
Rangers chairman, John Bennett, added: "I'd like to thank Michael for his dedicated work since he re-joined the club as manager last November.
"It is clear that results have fallen well short of the board's, Michael's and our supporters' expectations.
"The search process for the new manager is already underway. I wish Steven Davis and the interim management team every success - they will remain in charge for as long as it takes to make the right appointment."
Davis will lead Rangers for the first time when they travel to Cyprus to face Aris Limassol in the Europa League group stage on Thursday night.
Oliver Thomas
