David Taylor-Smith, chief operating officer, and Ian Horseman-Sewell, director for G4S Global Events have resigned over G4S’ failure to deliver security services for the London 2012 Olympics.

The announcement of the resignations comes after an investigation by PricewaterhouseCoopers, with G4S announcing the findings, saying that: “The company has management and other structures and processes that have proved highly effective in delivering the company's regular business over many years but it did not recognise these structures and processes needed augmenting for the Olympic contract.”

Chief executive Nick Buckles, who faced criticism in front of the home affairs committee, has kept his job.