G4S bosses quit over Olympics

David Taylor-Smith and Ian Horseman Sewell, who quit their roles at G4S on Friday, are not expected to receive any pay-offs outside of notice entitlements within their contracts.

G4S chief executive Nick Buckles kept his job on Friday despite the resignation of two other key company directors in the wake of a botched Olympics contract.

Did you know that his salary is close to £1 million, his business hero is Margaret Thatcher and he used to be a postman?

G4S bosses were right to quit over the Olympics fiasco, London Mayor Boris Johnson told LBC radio on Friday.

Labour MP Keith Vaz said the resignation of two G4S directors on Friday was "the right decision".

G4S says it will appoint a chief operating officer to work closely with chief executive Nick Buckles on customer service and project delivery.

It has also promised to carry out more rigorous risk assessments of new contracts and will demand board-level oversight on contracts where annual revenues exceed £50 million.

G4S said its board had decided that it was in the best interests of the company and its shareholders that Buckles remains as chief executive.

Buckles, who admitted to MPs that the Games staffing episode had been a "humiliating shambles", was not guilty of any significant shortcomings in his performance, the company said.

G4S have explained why chief executive Nick Buckles remains in is post despite the company's Olympics failure in a statement.

Two G4S directors have resigned in the wake of an independent review into the company's botched Olympic Games contract.

Chief operating officer David Taylor-Smith and Ian Horseman Sewell, who is head of global events, are to carry the can for the fiasco but chief executive Nick Buckles will remain in his post.

The report by PwC found that monitoring and tracking of the security workforce was inadequate and that management failed to appreciate the scale and exact nature of the project.

G4S fulfilled 83% of contracted shifts at the Games, failing to provide all of the 10,400 contracted guards and forcing the Government to step in with military personnel.

The group chief executive of G4S, Nick Buckles, remains in his post on Friday after two directors quit in the wake of a review into the company's Olympic Games contract.

G4S's chief operating officer David Taylor-Smith and global events specialist Ian Horseman Sewell have quit.

Two G4S directors - David Taylor-Smith and Ian Horseman Sewell - have resigned after the company announced the findings of a review into its Olympics Games contract. Nick Buckles has kept his job as group chief executive.