MORTON chairman Douglas Rae is standing down and handing the reins over to his son Crawford.
The club announced the move, triggered by health reasons, this afternoon ahead of today's final match of the season against Inverness Caley at Cappielow.
It marks the end of an era at Ton, with Mr Rae, a lifelong fan, having been at the helm for the last 17 years.
Douglas Rae said: "It is with great reluctance that I announce I will be taking a back seat following this afternoon’s fixture against Inverness Caledonian Thistle due to health issues, but I am, at the same time, delighted to take on the role of honorary club president and now watch only from a distance.
"The role of chairman, I pass to my son Crawford, who will have the task of juggling the football’s club finances alongside the demands of our confectionery business.
"We have a fantastic board of directors who collectively run numerous successful businesses and bring great talent and resources to the table. I leave knowing the club is in good hands, but we need you, our supporters, to know that we have great ambition for the future.
"I have to admit that I have allowed my heart to rule my footballing decisions over the last two decades and, while not always getting it right during my tenure, I have always acted in what I believed to be the best interests of Greenock Morton Football Club at all times.
"I have been honoured to have been the club’s main custodian over the last 17 years and I would like to take this opportunity to salute all our wonderful fans for their resolve, backing, and unstinting support during my tenure.
"My regret and disappointment has been that I have not been able to deliver top-flight football for the people of Inverclyde and for that failure I truly apologise.
"As a final request, I would ask you for your continued support and with us working together then I believe that we can achieve our collective ambition of reaching the Premiership. This would make me incredibly proud and an experience I would truly love to share with all of you during my lifetime."
Mr Rae had previously served as a Ton director in a previous spell for eight years, leaving the club in 1997 when it was sold by then-owner John Wilson.
He subsequently returned and rescued Morton in 2001 when it was languishing in administration following a ruinous spell in the hands of controversial local businessman Hugh Scott.
After the takeover Mr Rae got the beleaguered club back on its feet and made investment to reopen parts of the stadium which had been put beyond use.
Although Ton were then relegated to the bottom level of Scottish football they gradually fought their way back up the divisions with promotions in the following years under Mr Rae's ownership.
The club had its highest finish under his control in 2013 when they finished runners-up to Partick Thistle in the second tier.
Aside from three league titles during his spell as chairman another recent highlight was when they reached the last four of a national cup competition for the first time in decades, losing to Aberdeen in the League Cup semis at Hampden.
In recent years Mr Rae has gradually stepped back from day-to-day running of the club, with chief executive Warren Hawke appointed and new directors joining his son in the boardroom.
Mr Rae, who was made an OBE in the Queen's birthday honours list in 2016, stepped down last July as boss of Golden Casket, the Fort Matilda-based confectionery firm he founded.
He passed control to his son Crawford, with the same move now happening at Cappielow less than a year later.