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David Taylor Smith, one of the directors of security firm G4S who has quit over the firm's failure to supply enough security guards for the Games, is an ex-British Army officer, who joined the firm as managing director of G4S Hong Kong in 1998, before going on to head its UK and Ireland operation.
In January, he was appointed as regional chief executive of the UK and Africa region. Mr Taylor-Smith and Ian Horseman Sewell, who is the other G4S director to resign, are not expected to receive any pay-offs outside of notice entitlements within their contracts.
Keith Vaz, chairman of the Commons Home Affairs Select Committee, said: "This is the right decision by senior officials at G4S to take responsibility for the fiasco of G4S's involvement in Olympic security preparations.
"This however does not represent closure. As the Home Affairs Committee recommended, G4S must address outstanding issues concerning the waiving of the management fee and the ex-gratia payments it should make to the employees it treated in such a cavalier fashion."
He went on: "A strong and clear message to companies that receive taxpayers' money has been sent.
"Those who fail to deliver on contracts must pay the ultimate price. It is now imperative that the Government set up the procurement risk register that the committee recommends."
Two of the directors of security firm G4S have resigned over the company's failure to provide enough security guards for the Olympics. David Taylor Smith and Ian Horseman Sewell decided to go after the company completed a review of the fiasco. Chief Executive Nick Buckles has kept his job.