Buckles survives G4S Olympic contract fiasco

 
City A.M. Reporter
Nick Buckles has held onto his position as chief executive of security firm G4S, as it announced this morning its chief eoperating officer and global events director would resign as a result of the bungled Olympics contract.

In July, G4S admitted it could not recruit the necessary 10,400 security staff for the Games, and an extra 4,700 military troops had to be called in to make up the shortfall in G4S staff as a result.

In a statement G4S said that retaining Buckles as chief executive was “in the best interests of the company and all of its stakeholders”.

It added: “While the chief executive has ultimate responsibility for the company's performance, the review did not identify significant shortcomings in his performance or serious failings attributable to him in connection with the Olympic contract.”

Chief operating officer David Taylor-Smith and managing director of global events Ian Horseman Sewell have resigned as a result of the failed Olympic contract.