Sir Ian Wood, the Scottish billionaire businessman who built Wood Group into one of the world’s leading engineering and consulting companies, has died at the age of 84.
According to his family, Sir Ian passed away peacefully at his home. He was widely recognized as one of Scotland’s most influential entrepreneurs, earning his fortune through the growth of the North Sea oil and gas industry while also becoming a respected philanthropist.
Sir Ian took over his family’s business in 1967. Originally established as a fishing enterprise, he transformed it into a global engineering company that played a major role in supporting the rapidly expanding North Sea energy sector.
Under his leadership, Wood Group grew into an international business with operations across the energy industry worldwide. At its height, the company was valued at more than £5 billion, making it one of Scotland’s biggest corporate success stories.
He stepped down as chairman of the company in 2012 after decades at the helm. His contributions to the oil and gas industry earned him a knighthood in 1994, and he was later appointed to the Order of the Thistle, Scotland’s highest order of chivalry.
In a statement, his family described him as a devoted husband, father, grandfather, and friend whose greatest legacy extended far beyond business success.
“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 statement read.
The family said Sir Ian remained committed to creating opportunities for others throughout his life. Through the expansion of the company that carried his family name and his charitable work, he sought to make a lasting difference in Scotland and beyond.
His passion for education, entrepreneurship, and community development led to the establishment of The Wood Foundation, along with several initiatives that have supported young people, families, and communities in reaching their full potential.
Sir Ian is survived by his wife, Helen, with whom he shared 55 years of marriage, their three sons—Nic, Graham, and Garreth—and seven grandchildren.
His family also expressed gratitude to the healthcare professionals who cared for him during his final days.
They concluded their tribute by saying that Sir Ian’s legacy will live on through the lives he impacted, the organizations he helped build, and the values he upheld throughout his lifetime. They also requested privacy as they mourn his passing, ending the statement with a touching farewell: “May the tea in Heaven always be extra hot.”
