Rovers Chief Executive John Williams said today: "Graeme was very sad to leave the club, a job he feels is one of the best in football, but felt this was too big an opportunity to turn down."
Caretaker boss Tony Parkes will now take over in his SIXTH stint as Rovers manager on a temporary basis. The Rovers board are now actively seeking a replacement for Souness, although they will bide their time to ensure they get the right man for the job.
Possible candidates include Gordon Strachan who is available after a short stint away from the game after resigning as Southampton manager, and Alan Shearer who will surely be interested in taking over his 'second club'. Other candidates include Gerard Houllier, Kenny Dalgliesh, Glenn Hoddle, Alan Curbishley and Mike Newell.
Many fans are sad to see Graeme go and thank him for the promotion, the Cup win and the European qualifications - but also many believe he has taken the club as far as he can.