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Rangers have parted company with manager Pedro Caixinha, the club have announced.

The Rangers board took the decision to end his troubled seven-month reign after they met for talks in the wake of Wednesday night's 1-1 draw with Kilmarnock.

Under-20s boss Graeme Murty will resume caretaker duties for the second time this year when the Light Blues travel to Edinburgh to face Hearts on Saturday.

The club released a statement confirming the 46-year-old's departure just after 3pm.

It said: "Rangers Football Club announce today that Pedro Caixinha has left the Club.

"The decision to part company with Pedro was taken after careful consideration and the search for a new manager will begin immediately.

(Image: Getty)

"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, the Board, appreciate this is a difficult time for all Rangers supporters and we thank you for your patience and know Graeme and the players will receive your full backing in the days ahead.

"We thank Pedro and his backroom staff for their efforts and commitment and wish them well for the future."

Former Rangers and Scotland skipper Barry Ferguson, who had two spells at Ibrox, told BBC Scotland: "I just want somebody who knows the club and the expectations.

"I want someone who knows what it's all about to play for and manage Rangers, and can get that hunger and desire back into the team.

"The next appointment has got to be right."