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Sir Ian Wood dies at 84, legacy includes Wood Group sale
Wood Group was founded from a family boat repair yard, later went public in 2002, and was sold to a Dubai company last year.
BBC Business reports that Sir Ian Wood, the Aberdeen businessman and philanthropist behind the Wood Group, has died at age 84, according to a statement from his family.
The outlet says Wood took over the family fishing boat repair yard in 1967 and helped build a separate engineering business to serve the expanding North Sea oil industry. Over time, the Wood Group became a global energy services player valued at more than £5 billion at its peak, with work in the energy sector around the world.
The story notes that the company went public in 2002 and was sold to a Dubai company last year. Sir Ian retired as chairman in 2012, and was knighted in 1994 for services to the oil and gas industry.
BBC Business adds that his philanthropic work was carried out through the Wood Foundation, which he founded in 2007, supporting investments and charitable efforts in agriculture and conservation in east Africa, along with projects in Scotland.