24th Oct 2013 19:52
LONDON (Alliance News) - G4S PLC has replaced its UK chief executive as it attempts to repair its relationship with the UK government following allegations that it overcharged on contracts for the electronic tagging of prisoners, the Financial Times newspaper reported late Thursday.
Richard Morris, the regional chief executive of UK and Ireland, has agreed to leave immediately after 10 years with the FTSE 100 security firm, the FT said. The move means the UK division has had two chief executives in just over a year, as Morris was promoted to the role only in September 2012, the newspaper said.
Eddie Ashton, who the joined G4S as chief operating officer from Deutsche Post DHL in July, will take over from Morris immediately, the FT said.
G4S shares closed Thursday at 253.00 pence per share, up 0.30p.
By Tom Waite; [email protected]; @thomaslwaite
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