CELTIC'S shock Scottish Cup exit at the hands of First Division Falkirk has not prompted Parkhead boss Tommy Burns to resign - so far. The beleaguered Burns saw his star-studded team humbled as the Bairns ran out 1-0 winners, thanks to a Paul McGrillen header, in the semi-final replay at Ibrox on Wednesday. But Burns, his future speculated on in the press and by fans for several weeks, defiantly stood by his desk at Parkhead and said: 'I won't do anything in haste. 'It will be down to the board and my family to decide on the future. 'All managers live or die by success and that is the pressure that I am under and that the players are under. 'Unfortunately, some of my players couldn't handle it.' Burns, whose contract is up in the summer, has been told by Celtic chairman Fergus McCann that a 'review' of operational policy will be held then. He was stunned by the result which ranks as one of the worst in his managerial or playing career. He said: 'As a player I always dreaded being involved in situations like Berwick Rangers [when Glasgow Rangers were knocked out of the Scottish Cup 1-0 by the part-timers] and now this has happened to Celtic. 'It is a very sad time for both myself and the club.' There were no calls from the fans for Burns' resignation after the defeat and, ironically, some support for the manager was evident in the Scottish media. Undeniably, though, with three Premier Division games left and nothing to play for, McCann's end of season review will take on a more significance after the Falkirk result. It will also come in the wake of Rangers inevitably clinching the league title for a record-equalling ninth time in a row. McCann would comment on neither the semi-final defeat nor what the future held for Burns or the club. The Scottish-Canadian millionaire, who rescued Celtic from bankruptcy with a cash injection of GBP9 million, has stated that he will quit Parkhead next year although it is unclear who, or what consortium, will succeed him. With Celtic's successful stock market flotation and the refurbishment of the stadium almost complete, there is cash for new players in addition to the big-money buys of Paolo di Canio, Jorge Cadete, Alan Stubbs, Tommy Johnson and Enrico Annoni. Burns' words, though, and the passion he holds for Celtic may prompt him to walk away from the task of making Celtic a genuine challenger to their rivals on the other side of the city. He guided them to only one victory over Rangers, in the Scottish Cup, but lost all four league games to Walter Smith's men this season - a record which does not bode well for aspirants to the league flag. Earlier in the season Burns said: 'I will always do what I think is best for Celtic Football Club and I will not shy away from that task. 'The club is bigger than any individual and must always be given priority in order to achieve success.' If not to haunt, those words may return to Burns soon.