The legendary 9-in-a-row captain, who won every major domestic honour with Rangers, returns to the club he served with great distinction during the Graeme Souness and Walter Smith eras.
A firm favourite with supporters around the world, Richard – who is based in America – will represent Rangers in an official capacity going forward with a specific focus on increasing the club’s profile overseas.
Richard, who will also liaise with supporters, said: “It was an honour and privilege to represent Rangers for many years and win so many honours as captain, so of course I am delighted to play a part in the club’s on-going development.
“I enjoyed the best years of my career at Ibrox and I will do all I can to help promote Rangers.
“This 143-year old institution is on the way back. At the helm we now have good, solid Rangers men with the club’s best interests at heart and I am thrilled to assist their rebuilding work.
“The supporters deserve a Rangers they can be proud of again and I will assist Dave King and the Board in any way possible.”
Rangers Managing Director Stewart Robertson added: “Richard is a Rangers icon and he can help raise the club’s profile around the world.
“He will promote the club in a variety of ways in his role as Global Ambassador and can act as a conduit between the club and NARSA.
“Richard has always enjoyed a strong relationship with supporters and has the respect of everyone within the game so we are delighted to have him on board.”