G4S says it will appoint a chief operating officer to work closely with chief executive Nick Buckles on customer service and project delivery.
It has also promised to carry out more rigorous risk assessments of new contracts and will demand board-level oversight on contracts where annual revenues exceed £50 million.
G4S said its board had decided that it was in the best interests of the company and its shareholders that Buckles remains as chief executive.
Buckles, who admitted to MPs that the Games staffing episode had been a "humiliating shambles", was not guilty of any significant shortcomings in his performance, the company said.
More top news
A chilly night with widespread frost and fog in some parts of the UK which will be slow to lift in the morning.
Uptown Funk, his collaboration with Bruno Mars, reached number one in the charts again this evening.
ITV News spoke to Nick Channing-Williams who described the freezing conditions on board the car ferry that caught fire earlier today.