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
The huge counter-terrorism effort is placing an unsustainable strain on wider policing service, one of the most senior officers has warned.
A man and woman have been arrested on suspicion of murder after a badly burned body was found in a garden in Southfields, south-west London.
Kim Jong-un has called Donald Trump "deranged" and says he will "pay dearly" for his threats, according to North Korea's state news agency.