 This football board was separate and distinct from the Plc board of "Rangers International Football Club Plc (RIFC)", which is the holding company of TRFCL.During this period, references were made to both the football board and Plc board and the situation effectively saw the club with two chairmen, however, since the departure of Sandy Easdale in 2015, the "football board" terminology has ceased leaving the Plc chair as the definitive Chairman.Between June and December 2012, before flotation on the AIM stock exchange and the subsequent formation of RIFC, the chairman of TRFCL was "de jure" the chairman of Rangers Football Club.