Third head rolls at G4S following Olympic security fiasco
Wednesday, 14 November 2012
November 14 - G4S has lost its third director in the wake of the London 2012 Olympic security blunder.
Mark Hamilton, who was head of Olympic security and a former Paul McCartney bodyguard, left by what the company said was "mutual consent".
G4S admitted just two weeks before the London Olympics and Paralympics that it could not provide the promised 10,400 guards, forcing the British armed forces to step in and make up the shortfall.
While the security group's chief executive Nick Buckles survived the Olympics fiasco, Hamilton joins chief operating officer David Taylor-Smith and global events director Ian Horseman Sewell, who both resigned in September following an internal investigation.
Since the botched Olympic contract, G4S has lost out on the renewal of its Government prison contract, with a critical report by the chief inspector of prisons saying it had found "clear weaknesses".
The company also failed to make shortlist for deals to run a further four British jails.
G4S has already booked a £50 million ($79 million/€62 million) loss against the Olympic contract, based on the company's estimate, with London 2012 suspending payments to the security firm on July 13 when it became clear it would not be able to provide all the security staff it had agreed to.
November 2012: London 2012 failure sees G4S punished again
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September 2012: London 2012 security contract is one of kind, says G4S chief following "humiliating shambles"
September 2012: Overcoming G4S failure was our biggest challenge admits Coe