Sir Ian Wood, the billionaire entrepreneur, philanthropist and founder of Wood Group, has died peacefully at his home at the age of 84.
Sir Ian built his fortune in the North Sea oil industry, transforming the family business from a fishing operation into a global engineering and consultancy company after taking over its leadership in 1967.
Under his leadership, Wood Group grew into one of the world’s leading energy services firms, with operations spanning several countries. At its peak, the company was valued at more than £5 billion.
He stepped down as chairman of the company in 2012 after decades at the helm. Sir Ian was knighted in 1994 for his services to the oil and gas industry and was later appointed to the Order of the Thistle, Scotland’s highest chivalric honour.
In a statement, his family described him as “a devoted husband, father, grandfather and friend.
“While many knew him as an entrepreneur, philanthropist and one of Scotland’s most influential business leaders, those closest to him will remember above all his kindness, generosity, determination and unwavering commitment to his family.”
The family added: “Born and raised in Aberdeen, Sir Ian dedicated his life to building opportunities for others.
“Through the growth of the business that bore his family name and through decades of philanthropic work, he sought to create lasting positive change both in Scotland and around the world.
“His commitment to education, enterprise and social impact led to the creation of The Wood Foundation and numerous other initiatives around the world which have helped young people, communities and families realise their potential.”
Sir Ian is survived by his wife, Helen, whom he was married to for 55 years, their three sons, Nic, Graham and Garreth, and seven grandchildren.
The family also expressed gratitude to the healthcare professionals who cared for him, saying: “Sir Ian’s legacy will live on through the countless lives he touched, the organisations he helped build and the values he championed throughout his life.
“The family respectfully requests privacy at this time as they mourn his loss.
“May the tea in Heaven always be ‘extra hot’.”
