Tributes have been pouring in from Scotland and further afield for Sir Ian Wood, 84, who has died. The Business would also like to pass on its condolences for the passing of one of Scotland’s greatest business figures.
“He remains one of our nation’s most successful entrepreneurs. A man who built an outstanding international business in his own lifetime, and gave so much more in a civic and philanthropic sense,” said Hamish Miller, the Publisher of The Business.
A major player in the North Sea industry, Sir Ian helped to ‘shape modern Scotland’, declared Scotland’s First Minister John Swinney, while fellow entrepreneur, Sir Tom Hunter, regarded Sir Ian as a hero and an inspiration.
Under Sir Ian’s guidance the Wood Group, originally a family trawling business, became a stand-alone company in 1982, delivering engineering, oilfield logistics and drilling services to the North Sea and global markets, anchoring development of Aberdeen’s energy supply chain.
In 2002, Wood Group became a public listed company joining the FTSE100 a few years later.
When Wood stepped down as chief executive in 2006 and as then chairman in 2012, Wood Group plc was operating in over 50 countries worldwide and employed over 42,000 people.
Recognition followed his achievements. Wood was appointed CBE in 1982 and knighted in 1994. In 2009, he was inducted as an Industry Pioneer in the Offshore Energy Center’s Hall of Fame in Houston, Texas.
While he was a University of Aberdeen graduate in psychology, it is his close relationship with Robert Gordon University in Aberdeen, which meant a great deal to the multi-millionaire.
“The RGU community is deeply saddened by the passing of Sir Ian Wood, whose influence on both the University and the wider Aberdeen and North East community was profound.
“Sir Ian’s relationship with RGU was defined by a shared commitment to the values that shaped both his career and our institution’s identity. RGU’s focus on employability, innovation, industry collaboration and applied learning closely reflected Sir Ian’s lifelong dedication to building strong links between education and business, supporting entrepreneurship, investing in skills development and promoting Aberdeen on the international stage.
Sir Ian’s connection with RGU spanned more than two decades. He was awarded an Honorary Doctorate in 1998 in recognition of his exceptional contribution to business and industry, he later served as Chancellor from 2004 to 2020, becoming one of the figures most closely associated with the University’s modern development.
“His leadership, advocacy and support helped advance the University’s role as a driver of economic and social development across the region,” said the university.
A lasting symbol of his association with RGU is the Sir Ian Wood Building on the Garthdee campus. Officially opened by HRH The Princess Royal on 2 July 2015 and named in his honour.
His commitment to the future prosperity of the North East extended far beyond business. As Chairman of Opportunity North East (ONE), Chair of ETZ Ltd and founding Chairman of the Oil & Gas Technology Centre, now the Net Zero Technology Centre, he championed economic diversification, innovation and the energy transition.
Through these roles, he demonstrated an unwavering belief in the region’s ability to adapt and thrive, helping to create new opportunities across sectors including energy, digital technology, food and drink and life sciences.
He was not afraid of causing controversy and his multi-million pound plan to invest in the development of Union Street in Aberdeen was met with political objections which scuppered his idea.
He was also chairman of Scottish Enterprise and responsible for several reviews of Scotland’s economic activity and outputs.
David Whitehouse, chief executive of Offshore Energies UK said: “We are very sad to hear of the passing of Sir Ian Wood. He was one of the defining figures of the North Sea oil and gas industry who transformed his family’s fishing business into a global engineering player as well as establishing Scotland as a world-renowned centre of energy expertise.
“Commissioned by the Secretary of State for Energy, Ed Davey, to lead the independent Wood Review in 2013, Sir Ian Wood evaluated the regulation and stewardship of the UK Continental Shelf, challenging industry and government to think differently about collaboration, stewardship and maximising the value of the UK’s offshore resources. The review led to the creation of an arm’s length regulatory body, the Oil and Gas Authority which is now the North Sea Transition Authority.
“The offshore energy sector we know today would be very different without Sir Ian’s vision, leadership and persistence. He was always supportive of me in my role, and I appreciated his guidance and kindness.
“On behalf of Offshore Energies UK, I pay tribute to a remarkable leader whose legacy will endure for generations. Our thoughts are with his family, friends and former colleagues at this sad time.”
Beyond his business and civic leadership, Sir Ian was a passionate philanthropist. Through The Wood Foundation, he supported education, young people and economic development initiatives in Scotland and Africa, improving opportunities and outcomes for countless individuals and communities.
The RGU tribute continued: “As we reflect on Sir Ian’s extraordinary life and legacy, we do so with deep gratitude for all that he gave to our University, our city and our region. His vision, leadership and generosity helped shape opportunities for countless individuals and strengthened the bonds between education, industry and community.
John Swinney said: “Sir Ian Wood stands as one of Scotland’s most influential business leaders and philanthropists, a figure whose vision, determination and generosity have left a lasting mark on the nation and far beyond.”
Douglas Alexander, the Scottish Secretary, said: “Sir Ian Wood was one of Scotland’s finest sons. Ian was a giant of Scottish business, philanthropy and society.”
Sir Ian is survived by his wife Helen, three children and seven grandchildren.
