London 2012 Ceo Gets Government Role
London 2012 CEO Paul Deighton has been appointed as a Minister in Britain’s Treasury by the Prime Minister David Cameron.
Deighton will become the new Commercial Secretary to the Treasury, where he will have special responsibility for economic delivery.
Cameron announced the appointment as part of a Cabinet reshuffle which saw a significant promotion for Jeremy Hunt, who has been named as the new Secretary of State for Health.
As the Secretary of State for Media, Olympics, Culture and Sport, Hunt was the top-ranking Government official in charge of London 2012.
Deighton, a former investment banker with Goldman Sachs, will officially take up the role in January when his contract with London 2012 finishes.
The 56 year-old replaces Lord Sassoon, who was appointed as the first Commercial Secretary to the Treasury in May 2010.
Deighton’s responsibilities will include taking forward the National Infrastructure Plan, which was published last November and includes commitments to improve Britain’s transport and broadband networks as well as steps to attract major new private sector investment.
He will also be overseeing the new private finance initiative model and UK Guarantees scheme, where the Government is looking at under writing infrastructure schemes.
Cameron said: ‘I am delighted that one of the most talented leaders Britain has is joining the Government.’
‘His appointment proves this Government means business in terms of delivering infrastructure projects and economic revival.’
Deighton was appointed as chief executive of London 2012 in December 2005 after his wife saw an advert for the job in The Economist, he has since been widely praised for delivering one of the best Games in history.
Deighton will report to Chancellor George Osborne, who was booed by the 80,000 crowd at the Olympic Stadium on Monday night when he presented medals.
At the end of the Olympics last month, Cameron appointed London 2012 chairman Sebastian Coe as his Olympics legacy ambassador.
