07/03/2013 07:32 GMT

Ben Ainslie, Lord Coe And Team GB Members Collect Honours At Buckingham Palace (PICTURES)

Lord Coe was awarded a special honour by Princess Anne at Buckingham Palace for helping to stage the London 2012 Games.

The London 2012 chairman and two-time Olympic 1,500m gold medallist heads a list of Olympic and Paralympic champions and key executives who will receive honours from the Princess Royal at Buckingham Palace.

Lord Coe, who was knighted after helping to spearhead London's successful bid to stage the Games, will be made a member of the Order of the Companions of Honour.

Another famous Olympian Sir Ben Ainslie, 36, was knighted during the investiture ceremony.

A hard-fought victory in the Finn class event last summer made him the world's most successful Olympic sailor with four golds and a silver medal from successive Games.

ben ainslie

Ainslie with his nephew Oscar Pels

During the ceremony, rower Kath Grainger, 37, who finally won a much-treasured Olympic gold with teammate Anna Watkins in the double sculls, was made a CBE.

Wheelchair racer David Weir, fondly nicknamed The Weirwolf by his army of cheering fans, brought home four golds from last year's Paralympics and was made a CBE.

Charlotte Dujardin, who won team and individual dressage gold at London 2012, was honoured with an OBE, and Heather Frederiksen who defended her 100 metres S8 backstroke title at the Paralympics, collected an MBE.