Sir Ian Wood, the billionaire and philanthropist who ran the Wood Group company based in Aberdeen, has died at the age of 84. One of Scotland’s wealthiest people, who earned his fortune in the North Sea oil industry where he built up the engineering and consulting company, Sir Ian’s family said he died peacefully at his home.
Business Legacy
The company 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 £5 billion, carrying out work in the energy industry around the world. Sir Ian, who retired as chairman of the group in 2012, was knighted in 1994 for services to the oil and gas industry. He was later made a member of the Order of the Thistle, Scotland’s highest order of chivalry.
Philanthropy
His philanthropic work was carried out through the Wood Foundation, which he founded in 2007. The foundation is involved in a number of investments and charitable work around agriculture and conservation in east Africa, as well as projects in Scotland.
Family Statement
A statement from Sir Ian’s family said: “Sir Ian was 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 statement continued: “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.”
The 84-year-old was a husband to Helen for 55 years, a father to Nic, Graham and Garreth, and a grandfather of seven children. The family thanked the healthcare professionals who cared for Sir Ian, adding: “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’.”
