Aberdeen manager Derek McInnes is staying at Pittodrie after "weighing up" an approach from Rangers.
The Dons rejected Rangers' request on Tuesday to speak to McInnes, 46, about the managerial vacancy at Ibrox.
A former Rangers player, McInnes was interested in speaking to the club and said he "had a lot to consider".
Aberdeen chairman Stewart Milne, who rebuffed Rangers' approach, declared himself the "happiest man in the world" that McInnes has decided to stay.
The Dons travel to Dundee in the Premiership on Friday.
McInnes and assistant Tony Docherty have both been absent from training over the past two days, with under-20s boss Paul Sheerin and fellow coach Barry Robson taking charge of the first team.
McInnes said: "I've had a lot to consider over the last couple of days and I appreciate it's been a testing time for everyone, including my family, and I'm pleased to be now totally focusing on purely on-the-field matters."
Milne said in a statement headlined "Business as Usual" that McInnes, who has been at Pittodrie since March 2013, feels he has "unfinished business" at the club.
He has led them to three successive Premiership runners-up finishes, as well as the 2014 Scottish League Cup.
"As everyone is aware, Rangers made an approach on Tuesday evening and they were refused permission to speak with Derek," Milne said.
"I spoke with Derek, who felt it was a major thing to be considered for the managerial position at a club such as Rangers and we agreed he could have some time to think about the approach and talk it through with his family.
"Over the past 48 hours, I have been in constant dialogue with Derek and having weighed up the opportunity, he has taken the decision to remain as Aberdeen FC manager. Derek has also been maintaining close contact with Paul Sheerin.
"Derek appreciates all that he has at this club and feels he wants to keep driving the club forward. This is where he wants to be and he feels he very much has unfinished business with Aberdeen FC.
"I personally am delighted that Derek has decided to remain with the club and everyone looks forward to putting the speculation of the past few weeks behind us and concentrating on matters on the park starting at Dens tomorrow evening."
McInnes and Docherty signed new contracts until 2020 in July, after McInnes turned down the opportunity to take over at Sunderland following talks with the English Championship side.
Rangers sacked Pedro Caixinha six weeks ago, with caretaker boss Graeme Murty leading them to four wins and two defeats in the interim.
He is likely to remain in charge for Saturday's home Premiership game against Ross County.