Nick Buckles survives Olympic shakeout as two G4S execs quit
Security firm review 'did not identity significant shortcomings in the performance' of its CEO
TWO SENIOR executives have resigned over the G4S Olympics security fiasco - but CEO Nick Buckles, who admitted to MPs that his company's failure to provide enough security guards for the London Games was a "humiliating shambles", has survived.
A report into the affair carried out by PwC found that G4S had failed to appreciate the scale and complexity of the Olympics contract.
The government was forced to step in at the last minute and provide army personnel to make up the shortfall in security guards provided by G4S.
Following the publication of the PwC report, G4S has announced that chief operating officer David Taylor-Smith and Ian Horseman Sewell, a managing director, have resigned.
In a statement, G4S said that the board had decided it was in the "best interests" of the company for Buckles to remain as CEO.
"Whilst the CEO 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," it said.
Sky News reports that the resignations came a day after a board meeting was convened to decide who would "carry the can" for the debacle.
Reuters attempts to explain the reasoning behind the resignations: "Taylor-Smith was responsible for the [Olympics] contract and for ensuring it was delivered on budget and on time, while Sewell was the account director who told Reuters just before the Games that the company could have delivered two events of that scale at the same time."
Buckles may have been "the face" of the Olympic failure", adds Reuters, because he apologised on TV to the British public and twice appeared in front of a Commons committee to answer MPs' questions - but he survives.