Derek McInnes will remain as Aberdeen boss after deciding not to enter talks with Rangers.
The Dons manager was given time off to consider his options, despite the club initially refusing Rangers permission to speak to him.
Along with his assistant Tony Docherty, McInnes missed training on Wednesday and Thursday but will now remain in charge for Aberdeen's Scottish Premiership clash with Dundee on Friday evening.
The Dons boss was Rangers' first choice to replace Pedro Caixinha, who was sacked on October 26, but were denied the chance to speak to him on Tuesday evening.
It came after Rangers beat Aberdeen twice in back-to-back Premiership fixtures with the Ibrox side under the temporary stewardship of under-20s coach Graeme Murty.
Commenting on the decision, chairman Stewart Milne said in a statement: "As everyone is aware, Rangers made an approach on Tuesday evening and they were refused permission to speak with Derek.
"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 that 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 ahead of tomorrow's game at Dundee.
"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 added: "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 on-the-field matters."
Rangers chairman Dave King told his club's AGM that candidates for the job included managers under contract at other clubs.
He later said knowledge of the UK and Scottish game was a key requirement.
That intensified talk of an approach for McInnes, who played for Rangers between 1995 and 2000.