Nick Buckles, chief executive of security group G4S (GFS), managed to survive an aborted multi-billion pound takeover and the "embarrassing shambles" of failing to deliver the Olympics contract. But, in the end, his 28-year career unravelled as investors lost patience when the group warned on profits sending shares 14 per cent lower to 250p on Tuesday, after blaming the loss of a Dutch prison contract and weak European markets for margins being 60 basis points lower than expected.
Mr Buckles will be replaced by Ashley Almanza, former chief financial officer of gas group BG, who himself only joined G4S at the beginning of this month to replace Trevor Drighton as finance director. Mr Buckles has been under pressure since the aborted £5.2bn ISS takeover that cost investors £50m, and the failure of the Olympics contract that cost another £88m a year later, but the speed of his removal has still surprised the markets.
