Bloomberg News

G4S CEO Buckles Considered Resigning, Sunday Telegraph Reports

July 15, 2012

G4S Plc (GFS) Chief Executive Officer Nick Buckles said he had considered resigning over the company’s failure to provide enough staff for London’s Olympic Games, the Sunday Telegraph reported, citing an interview.

Buckles told the Telegraph he needs “to make sure” the company delivers the Olympic contract before his future as a CEO is decided by the shareholders, the newspaper reported. He is “very committed to staying” after 27 years with the G4S, the newspaper said, citing the CEO. Buckles, who earns a base salary of 830,000 pounds ($1.3 million) a year, won’t take a bonus in 2012, according to the newspaper.

G4S said June 13 it expects to lose as much as 50 million pounds on its contract after the government said it will deploy 3,500 extra soldiers to provide security to meet the staffing shortfall.

To contact the reporter on this story: Maria Kolesnikova in London at mkolesnikova@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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