Business Live: Wednesday 5 September

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BBC News understands that two of G4S's most senior managers are leaving the company.

The decision was made in the wake of a damning inspection of G4S-run Birmingham Prison.

It led the Government to take over responsibility for the troubled jail for at least six months in an unprecedented move.

Peter Neden, chief executive of care and justice services, will depart next September. Sources said Mr Neden, who joined G4S 17 years ago and was at one stage Regional President for the UK and Ireland, wanted to pursue "other opportunities".

Jerry Petherick, who heads G4S's custody and detention division, will also leave next year.

Mr Petherick, a highly-respected figure who's worked in the prison sector for more than 30 years, is retiring. It's believed the decision had been discussed some time ago.

There has been no official statement from the company yet, although staff were informed of the departures this week.

G4S's share price fell 1.5% to 246.1p.

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