Dermot Desmond has revealed he tried to convince Peter Lawwell to stay in the job as Celtic chief executive after he told of plans to retire this summer.

Celtic's major shareholder was unable to coax the chief to remain at Parkhead and Mr Lawwell this morning announced his retirement to come at the end of the season.

It comes in the midst of a difficult campaign with Celtic 23 points off rivals Rangers at the top of the table and fans demanding better from club hierarchy and management.

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Desmond insisted he did all he could to change Lawwell's mind despite the noise off the pitch at Parkhead this term with banners being unfurled demanding Lawwell's exit by disgruntled supporters on different occasions this season.

And he hailed the businessman for his loyalty, success and achievements whilst in the role.

In a statement on the club website, Desmond said: "When Peter told me he was considering retirement, I did my utmost, unsuccessfully, to dissuade him. Celtic Football Club owes a major debt of gratitude to Peter Lawwell, who has made a unique and transformative contribution to our Club. I have been privileged to work with many CEOs and Peter ranks up there with the best of them.

"Over the years, Peter was sought after by many English Premier League clubs, but his love and commitment to the Club and Scotland were more important to him. Since 2003, under Peter’s tutelage, Celtic has achieved incomparable domestic success and the number of trophies is unsurpassed by any other Club in Europe.

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"Peter’s expertise and professionalism have been recognised by UEFA where he has been an outstanding contributor, to the benefit of both Celtic and Scottish football. I have had a first-class relationship with Peter over the years, speaking daily and often multiple times daily. The Club and I will miss his wisdom, energy and unwavering devotion to Celtic FC. I cannot adequately express my thanks and appreciation to Peter for all he has done for Celtic FC."

Lawwell announced he will be replaced as CEO by Dominic McKay when he leaves this summer.