"Britain's 2012 relay coach hands over ____” (2011 The Times sport headline, about a resignation) (5)
I believe the answer is:
baton
(Other definitions for baton that I've seen before include "Conductor wields it - or a policeman" , "Policeman's truncheon" , "Conductor's wand" , "Piece of equipment" , "Conductor's rod" .)