G4S CEO Buckles Quits With Legacy of Failed Olympics Contract

G4S Plc (GFS) said Nick Buckles will step down as chief executive officer after a six-year period at the helm that soured after the company’s failure to provide sufficient security at London’s Olympic Games last year.

Buckles will retire on May 31 and be succeeded by Chief Financial Officer Ashley Almanza, the Crawley, England-based company said in a statement today. Almanza was hired at the start of this month.

“The board is extremely pleased to have attracted Ashley Almanza to the group,” G4S said in the statement. “He brings a wealth of experience from working across international borders in complex businesses and we are confident he will provide strong strategic and operational leadership to the group.”

To contact the reporter on this story: Andrew Noel in London at anoel@bloomberg.net

To contact the editor responsible for this story: Simon Thiel at sthiel1@bloomberg.net

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