Rangers have appointed Derek McInnes as manager on a three-year-deal after his momentous season in charge of Hearts.
The 54-year-old took last season's Scottish Premiership title race to the final day, with Hearts agonisingly finishing second after a late defeat at Celtic - eight points above third-placed Rangers.
McInnes replaces after less than eight months in charge at Ibrox.
McInnes - who played for Rangers between 1995 and 2000 - turned down the chance to manage the club when he was at Aberdeen.
He will be joined at Ibrox by assistants Alan Archibald, Paul Sheerin and Craig Clark.
McInnes said: "It is a real honour to become the manager of Rangers.
"It is no secret that I grew up a Rangers supporter and I am convinced this is the right time to take on this prestigious role.
"The demands here are clear and our supporters rightfully have high expectations. It is up to me, my staff and my players to meet those expectations, and have this club performing as it should.
"There is a lot of hard work ahead but already the preparations have begun, and I am looking forward to meeting the current squad in the coming weeks and welcoming some new faces."
Andrew Cavenagh, the Rangers chairman, said: "I am delighted to welcome Derek to Rangers. He is someone we have always rated highly and we believe he is exactly what this club needs at this moment in time.
"His deep Scottish and Rangers experience are important for us. He knows how to win in this league and he is coming off an extremely strong season with Hearts."
Hearts have assured supporters they have already prepared for McInnes' departure and identified a number of potential replacements, with the aim of appointing a new boss "swiftly".
A club statement read: "Derek made it clear he wished to pursue this opportunity and, following discussions between the clubs, Rangers met the requested compensation terms.
"Derek, Alan and Paul leave with our thanks for the contribution they made during their time at Tynecastle. Last season represented an important step forward for the club and they played a valued role in that progress.
"The club's ambitions, direction and commitment to success remain unchanged. Our progress has been driven by a clear strategy, significant investment and strong foundations that extend far beyond any one individual. Those foundations remain firmly in place and provide the platform for the next phase of our development.
"Succession planning is a continuous process and preparations for this eventuality have already been undertaken. A number of candidates have been identified and the process of appointing a new head coach has already begun, with the aim of making the right appointment as swiftly as possible."
Rangers have only won the Scottish Premiership once since 2011, and managing just one Scottish Cup and one League Cup in the same period.
There is no doubt McInnes will be under pressure to deliver silverware in his first season. But Kris Boyd believes McInnes can meet expectations.
"It's been a long time coming," he said.
"I'm absolutely delighted he's managed to get the job and he'll be looking forward to the upcoming season.
"He was very unlucky last year, he's shown that he is a good operator in Scottish football and Rangers are hoping he can continue to improve.
"He's got a big summer ahead of him because Rangers do need a squad overhaul. They do need to get a good five or six players into it.
"Derek has always made the best of the funds he's had available, he's been able to get and build a squad wherever he's been that has been able to challenge deep into the season.
"He has shown that he can recruit players that give him and his team the best opportunity to win games, and he'll be hoping to continue that theme at Rangers.
"Rangers are still a huge football club, they underperformed last season and we're hoping that McInnes is a man to take them back to winning trophies on a regular basis.
"Rangers do need to get back to winning trophies. It's been a long time.
"You would imagine that there will be a large chunk of transfer money available for Derek to go and sign players. They will be hoping he can deliver that title.
"You could argue for Derek to finish second the amount of times he did with Aberdeen and then Hearts, it's like winning the league because of the financial power that Rangers and Celtic have had over the clubs that he's been at."
Rangers have already begun a summer rebuild, with Jim Gillespie, the new chief executive, executive director Fraser Thornton, technical director Dan Purdy and consultant Stig Inge Bjørnebye working with the coaching team to add to the squad.
Scotland international Lawrence Shankland was the first confirmed signing, joining from Hearts on a two-year deal with the option of a further 12 months.
The activation of a clause in his Hearts deal saw him move for free, having scored 20 goals in all competitions last season.
