London 2012 chairman Sebastian Coe has said here today that Prime Minister David Cameron has made "a very good appointment" in bringing Paul Deighton into the Treasury as part of yesterday's Government reshuffle.
Deighton (pictured above, right), the London 2012 chief executive who was valued at £95 million ($150 million/€120 million) by the Sunday Times Rich List, will assume an unpaid ministerial role as Commercial Secretary to the Treasury with responsibility for getting the economy moving.
That is a daunting task, with Britain currently battling its way out of a double dip recession, but the 56-year-old has taken huge credit for the success of this summer's Olympics and Paralympics.
Because Cameron can only name members of his cabinet from those with a seat in Parliament, Deighton, who has an economics degree from Cambridge University, has also been appointed to the House of Lords so that he can take up his post.
He will replace the outgoing Commercial Secretary Lord Sassoon.
"From a personal perspective I am very, very pleased for Paul," Coe (pictured above, left) said today.
"For someone who believes passionately in a better Government and considers Paul a close personal friend I am very pleased for him.
"It is a very good appointment for someone who believes passionately in getting talented people into positions where they are able to influence the direction of a nation.
"He is an extraordinarily talented person – one of the most talented I have worked alongside.
"He has a crucial range of assets now.
"This is someone who came from an overtly commercial background with probably limited interaction with the public sector.
"He has now been in a complex multi stakeholder landscape for the last seven years.
"Those skills will come together in a really exceptional way in his new post in Government."
Before he takes up the new role, Deighton will make a Parliamentary appearance, alongside Coe, in front of the Home Affairs Select Committee next Tuesday (September 11) to give evidence on the shambles caused by the G4S recruitment debacle on the eve of the Games.
He will begin his role when his contract with London 2012 ends in January, and the former Goldman Sachs investment banker will focus particularly on Chancellor George Osborne's Transport Infrastructure Plan.
Improving the transport and broadband networks will be a key part of his brief.
Cameron also announced yesterday that Jeremy Hunt, the Culture, Media and Sports Minister, would take on the health brief in place of Andrew Lansley, who had faced intense criticism and pressure over NHS reforms.
Hunt himself has endured a difficult few months after being entangled in the Leveson Inquiry after details of his relationship with Rupert Murdoch's media empire emerged this summer.
He was replaced by Maria Miller, who comes into the role without much previous experience in the world of sport.
Coe himself, who has previously served in Parliament as a Conservative member, is to take on a part-time legacy role after the Games.
The London 2012 chairman added that he thought that too much was being made of politicians being booed by the crowds during the Paralympics.
Osborne was booed as he presented medals at the Olympic Stadium on Monday night, while over at the Aquatics Centre Cameron received a similar reception when he took part in a victory ceremony for British double gold medallist Ellie Simmonds.
By contrast, London Mayor Boris Johnson received a rousing reception in the Aquatics Centre moments after Cameron was subjected to booing.
"It comes with the landscape," said Coe.
"That sort of thing does not just take place in an Olympic or Paralympic stadium, it takes place at cup finals.
"Most politicians are big enough to know that it comes with the territory
"I do not think we should read too much into it."
By David Gold at the Main Press Centre on the Olympic Park in London
Source: www.insidethegames.biz