Scotland has lost one of its most influential business leaders as billionaire entrepreneur and philanthropist Sir Ian Wood, the man who transformed a family business into a global energy powerhouse, has died at the age of 84.
The founder of the Wood Group transformed a small family business into a global energy giant. His work shaped the North Sea oil industry and created opportunities for thousands of people around the world.
Sir Ian died peacefully at his home, ending a remarkable career that spanned decades.
He took over his family’s fishing business in Aberdeen in 1967. Instead of following its traditional path, he expanded it into an engineering and consultancy company that served the fast-growing North Sea oil sector.
His vision turned the Wood Group into one of the world’s leading energy firms. At its peak, the company was worth more than £5 billion and managed projects across the globe.
Sir Ian stepped down as chairman in 2012 after decades of leadership. He received a knighthood in 1994 for his contributions to the oil and gas industry. He also earned membership in the Order of the Thistle, Scotland’s highest chivalric honour.
Beyond business, Sir Ian devoted much of his life to philanthropy. Through The Wood Foundation and other charitable initiatives, he invested in education, enterprise and community development. His work helped young people, families and communities unlock new opportunities.
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 said.
Sir Ian is survived by his wife, Helen, whom he married 55 years ago, their sons Nic, Graham and Garreth, and seven grandchildren.
The family also thanked the healthcare professionals who cared for him during his final days.
They said his legacy will live on through the people he inspired, the organisations he built and the values he championed throughout his life.
They ended their tribute with a touching farewell: “May the tea in Heaven always be ‘extra hot’.”
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