Le Guen took charge in the summer but has presided over a
disappointed season, with Rangers 17 points behind leaders Celtic in
the Scottish Premier League.
The final straw appears to be
decision to strip the popular Barry Ferguson of the Rangers captaincy
on Monday after accusing the Scot of undermining his authority.
Le Guen's departure makes him the shortest-serving Rangers manager in the club's history, having served just seven months.
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