Stewart took up his role on December 16 after Rangers went six months without a chief executive following the departure of James Bisgrove to Saudi Arabia, while chairman John Bennett also had to resign in September for health reasons.
New chairman Fraser Thornton also took up his role last month after a period of uncertainty in the Rangers boardroom, which Clement had to deal with.
Rangers have sacked Giovanni van Bronckhorst and Michael Beale in the last two seasons after poor league starts, but Stewart, who was Manchester United’s interim chief executive, says he and the club must deal with wider issues.
Rangers reported a £17m loss last year, but Stewart insists keeping faith with Clement is not a “financial decision”.
He confirmed that a “root and branch review of the entire football department” will begin on Monday and says he met with Clement on Friday night to discuss the results on the field.
“I can’t give Philippe any absolute guarantees,” Stewart said. “He and I have been in football long enough to know that’s not the case.
“Likewise, I’m not going to go into how many games Philippe has to save his job, that’s not what it’s about.
“We want to help Philippe identify why the inconsistency exists and address that.”
