It is understood Rangers chairman David Somers will step down, just days before shareholders decide on his future.
The future of the current board will be confirmed at an extraordinary general meeting at Ibrox on Friday.
Yet it is believed that the Stock Exchange will confirm on Monday morning that 66-year-old Somers has stepped down from the position.
Director James Easdale has already resigned from the board after bowing to pressure from Rangers fans.
Somers has been chairman of the Light Blues since October but fans protesting for change have called for him to vacate the position.
Former oldco director Dave King had called next week’s meeting in a bid to sweep Somers, chief executive Derek Llambias and financial officer Barry Leach out of Ibrox.
King needs to carry with him the support of 51 per cent of the Scottish Championship club’s shareholders and if he succeeds in routing the board, he plans to replace them with former Blue Knight Paul Murray, ex-Glasgow brewery boss John Gilligan and himself.