Serco boss steps down after tagging scandal

One of security company Serco's chiefs, Jeremy Stafford, has decided to step down as chief executive of UK & Europe as the company "has been working hard to refresh its relationship with central government in the UK".

Andrew White, chief operating officer of UK & Europe, will take over the role on an interim basis.

Serco wishes Jeremy the best for the future and congratulates Andrew on his new role.

A week ago Serco warned on profits for 2013, and said that expected earnings for 2014 will be lower than in this year. That came after an audit revealed that in a 2005 contract Serco had charged for tagging criminals that had never been tagged, were dead or in jail.