LONDON (SHARECAST) - Nick Buckles, Group Chief Executive Officer (CEO) of security firm G4S, is to keep his job after dodging the blame in the group's internal report into the Olympics staffing fiasco.
The news sent shares in the under-fire outfit higher, suggesting the market has a high opinion of Buckles.
"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," the report says.
The group has parted ways, however, with David Taylor-Smith, Chief Operating Officer and Regional Chief Executive Officer of UK and Africa, and Ian Horseman Sewell, Managing Director, G4S Global Events.
Insurer Admiral is in reverse gear after the Office of Fair Trading called in the Competition Commission (CC) to have a look at the UK car insurance market, which it suspects is not working as well to the benefit of the UK consumer as it should do. Admiral, no doubt, would petition for the CC to look into the suspiciously large increase in 'whiplash' claims the company has been seeing since the recession hit.