John Gilligan has stated Dave King's offer to return as Rangers chairman is "unrealistic" as he urged the businessman to "behave like a proper shareholder".
The interim Rangers chairman addressed the media on Monday for the first time since replacing John Bennett on Monday.
And Gilligan appeared to rule out a return to the top position for major shareholder King after the businessman had offered to return as chairman.
Quizzed on King's remarks, Gilligan said: "Dave is a major shareholder and he can say whatever he wishes to say. My view is, it's a wee bit unrealistic.
"Dave is a real businessman, he knows how shareholdings work and he is a 15 per cent shareholder. Other directors are 10, 12, 13 per cent shareholders.
"It's unrealistic."
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Asked whether it would be helpful if King 'went quiet now' after his recent pitches, Gilligan said: "I'm trying to think, has any director or any person at the club said anything about Dave? No. Have they responded publicly to interact? No. Will I ever say anything bad about Dave? No.
"Do I wish he would stop? Yes. I'd just say, 'Dave, please take it below the radar. Behave like a proper shareholder, don't do what you're doing.
"It's a shame because he is a great character and he had a massive influence in the club in his time and I will always respect that."
Gilligan then stated there is "no appetite" for King to return to the boardroom at Ibrox.
He said: "Dave was chairman, Dave's still a major investor and can attend the AGM and ask questions, but there's just no appetite for it at the moment because, one, Dave was here before and he stepped away. Other people stepped up - Douglas [Park] stepped up, then stepped down and John [Bennett] stepped down. There's just no appetite."
And on King's suggestion of an EGM being called, Gilligan insisted there is no need for such action with the current board not wishing for change.
He said: "Again, it's a wee bit unrealistic because EGM are realistically called by people who wish to change something, the current board don't want to change.
"So, why would we call an EGM?"
Touching on the need for investment in the club, Gilligan added: "There is fresh investment coming into the club. In fairness, Dave said he doesn't want to invest.
"There will be [investment]."
