Rangers are nine points behind leaders Celtic in the Scottish Premiership and also endured a sobering Champions League campaign which saw the club lose all six group-stage matches, a run which included a 7-1 hammering by Liverpool at home.
A Rangers statement read: “Rangers Football Club confirms today it has parted company with manager Giovanni van Bronckhorst. The board would like to put on record sincere thanks to Gio for all his efforts since his appointment as manager.
“Arriving at the club just over a year ago, Gio led the club to a fifth European final and won the Scottish Cup last May. He also led the team to the club’s first Champions League qualification in 12 years.
“Unfortunately, results and performances over recent months haven’t met expectations and the decision was made today by the board to terminate the contract of the manager.
“The search for the new manager is now under way.”
Chairman Douglas Park said: “I want to thank Gio for the hard work he has put in over the last 12 months and, especially, the achievements of taking the club to the Europa League final and winning the Scottish Cup last season.
“Unfortunately, recent results have not met neither our nor Gio’s expectations, and we have taken this difficult decision today. Everyone at Rangers wishes Gio every success in the future.”
The Dutchman lifted the Scottish Cup just days after being appointed and led Rangers to their first European final in 14 years, as they lost the Europa League final on penalties to Eintracht Frankfurt on penalties in Seville.
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The Gers drew 1-1 away to St Mirren in the last game before the World Cup, just days after they had bounced back from a 2-1 loss away at St Johnstone with a 1-0 win over Hearts at Ibrox.
Van Bronckhorst steered Rangers to the Champions League after a play-off round victory over PSV Eindhoven, only for his team to be brutally outclassed in Europe.
The Light Blues finished bottom of their group, losing all their six games, conceding 22 goals and scoring just twice – the worst-ever record in the group stages in the history of the competition.
