Sir Ian Wood, the billionaire and philanthropist who led the Wood Group firm headquartered in Aberdeen, has died aged 84. One of Scotland's richest individuals, he amassed his wealth in the North Sea oil sector, developing the engineering and consultancy enterprise. Sir Ian's relatives confirmed he died peacefully at his home.
From fishing to oil giant
The business began as a family fishing operation before Sir Ian assumed control in 1967. Throughout the following decades, he established a distinct engineering firm serving the rapidly expanding North Sea oil sector. At its peak, the Wood Group was worth over £5 billion, undertaking projects in the energy sector across the globe.
Philanthropy and honours
Sir Ian, who stepped down as chairman of the group in 2012, received his knighthood in 1994 for contributions to the oil and gas sector. He was subsequently appointed a member of the Order of the Thistle, Scotland's most prestigious chivalric honour. His charitable endeavours were conducted through the Wood Foundation, which he established in 2007. The foundation participates in numerous investments and charitable initiatives focusing on agriculture and conservation in east Africa, alongside schemes in Scotland.
Tributes from family
A statement from Sir Ian's relatives said: "Sir Ian was a devoted husband, father, grandfather and friend." The statement added: "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."
