Walter Smith has been appointed non-executive chairman of the Rangers board, the club on Thursday confirmed in a statement to the Stock Exchange.
The former Rangers manager succeeds Malcolm Murray, who agreed to step down from the role.
The appointment of Smith, who returned to Rangers as a non-executive director in November, was a unanimous decision of the board.
The statement to the Stock Exchange read: "The Rangers International Football Club plc today announced that Walter Smith has been appointed non-executive chairman of the board.
"Walter Smith is widely acknowledged as the club's most successful manager.
"Under his leadership, the club enjoyed two immensely productive spells and he is one of the most highly regarded figures in British football.
"He succeeds Malcolm Murray, who agreed to step down as chairman, and Walter Smith's appointment was a unanimous decision of the board.
"The board believes that the new chairman will bring stability, experience and a wealth of knowledge to the club."