The Aberdeen-based businessman and philanthropist Sir Ian Wood has died aged 84, his family has announced.
Sir Ian was one of the UK oil and gas industry’s most respected leaders, who turned his family’s fishing boat repair yard into a global engineering player in the North Sea and internationally.
He retired as chief executive in 2006 and a year later began concentrating on his charitable work, creating The Wood Foundation, which works on social and economic inequality, especially in Scotland and sub-Saharan Africa
His family said he died peacefully at home and they would remember his “kindness, generosity, determination and unwavering commitment to his family.”
Sir Ian was one of Scotland’s wealthiest people, with a personal worth estimated at £1.8bn.
Wood Group started as a family fishing business before Sir Ian took over in 1967.
Over the next decades, he formed a separate engineering company servicing the rapidly-growing North Sea oil business.
At its height, the Wood Group was valued at more than £5bn, carrying out work in the energy industry around the world. It went public in 2002 and was sold to a Dubai company last year.
Sir Ian, who retired as chairman of the group in 2012, was knighted in 1994 for services to the oil and gas industry and was later made a member of the Order of the Thistle, Scotland’s highest order of chivalry.