[COYG]

Only surprise is its taken so long...

Just days after his axing of midfield star Barry Ferguson as captain - Le Guen has parted company with the Scottish giants.

Le Guen has agreed by mutual consent to end his seven-month tenure at Ibrox - which makes it the shortest in the Glasgow club's history.

The decision was made after a meeting between Le Guen and chairman Sir David Murray.

"Having met with Paul, it was clear that in the interests of the club and all concerned we agreed jointly to him stepping down as manager," he told the club's website.

"We are all clearly disappointed with our current circumstances and will now focus on securing a suitable replacement.

"I would like to wish Paul and his management team well in the future."

Paul Le Guen added: "I am disappointed to leave the club, but I think it is the best solution for all concerned.

"I would like to thank all the people who helped me and my team during my spell in Scotland.

"In particular, I would like to thank the directors who at all times gave me their total support."

The club have confirmed that reserve team boss Iain Durrant will take temporary charge until a full time appointment is made.

Already a string of big names are being linked, including former Ibrox chiefs Walter Smith and Graeme Souness, while Derby boss Billy Davies is also being tipped