Renowned Scottish businessman Sir Ian Wood dies at the age of 84
His family say he passed away ‘peacefully at home’ on Sunday evening.
Renowned Scottish businessman Sir Ian Wood has died at the age of 84.
Sir Ian’s family confirmed he died “peacefully at home, surrounded by his family” on Sunday evening at his home in Aberdeen.
The businessman was responsible for the rise of the Wood Group, a household name within the north-east energy industry.
His family has released a statement paying tribute to the “devoted husband, father, grandfather and friend”. It said that despite his many philanthropic ventures and his success in business, his first commitment was always to his family.
It said: “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.”
Sir Ian was born and raised in Aberdeen and became one of Scotland’s wealthiest people. He also created The Wood Foundation to fund education, enterprise and social impact initiatives all over the world.
The family said: “He believed in finding the right balance between what you do for yourself, and what you do for others - he felt deeply that good fortune in life carries with it a responsibility to help others realise their own full potential.”
His family’s tribute added: “He was not only a source of wisdom, encouragement and strength to his family, but to so many others who knew him.
“The family would like to express their heartfelt gratitude to the healthcare professionals who cared for Sir Ian and to the many people and colleagues around the world who have offered support, friendship and kindness throughout his life.
“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 has requested privacy to mourn his loss, but added: “May the tea in Heaven always be ‘extra hot’.”
He went to school at Robert Gordon’s College and then graduated with a first-class degree in psychology from Aberdeen University in 1964. He married Helen Macrae in 1970 and together they have three sons - Nicholas, Graham and Garreth.
Sir Ian’s company started as a family fishing business before he took over in 1967. Over the next decades, he formed a separate engineering company to service the North Sea oil and gas business.
At its height, the Wood Group was valued at more than £5 billion and was carrying out work all over the world.
Over the years he has also been knighted for his services to the offshore oil and gas industry, appointed a CBE, inducted into the Offshore Energy Centre’s hall of fame in Houston, and made a Knight Grand Cross of the Order of the British Empire.
He was later made a member of the Order of the Thistle, Scotland’s highest order of chivalry. He also served as chancellor of Robert Gordon University from 2004 until 2021.
He also received the Carnegie Medal of Philanthropy in New York in 2019, and said: “Charity must not end at home.”
First Minister John Swinney has led the tributes to Sir Ian, saying he is one of Scotland’s “most influential business leaders and philanthropists” who has “left a lasting mark on the nation”.
He said: “His devotion to his home city of Aberdeen saw him champion initiatives that have strengthened the north-east of Scotland and supported the evolution of the region’s economy through his tireless advocacy for economic development, innovation and opportunity.
“From promoting technology and skills development to helping drive the transition towards a
lower-carbon future, he has consistently worked to secure long-term prosperity for future generations.”
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Mr Swinney added: “Equally significant is his commitment to philanthropy. Through The Wood Foundation, established by Sir Ian and his family in 2007, he has invested in transforming the lives of young people at home in Scotland as well as improving lives in East Africa, applying the same ambition and focus to social impact that defined his business career.
“Sir Ian Wood’s legacy is one of enterprise, leadership and generosity. He has helped shape
modern Scotland, strengthened its economy, advanced its energy industry and demonstrated the profound difference that purposeful philanthropy can make.
“I am deeply sorry to hear of his passing, and I want to express my profound sympathy to Sir
Ian’s family and friends at this incredibly difficult time.”
Douglas Lumsden, the Scottish Conservative MP for Aberdeen South, said: “Scotland has lost a true guiding light of its business community.
“Sir Ian was a champion of everything north-east, both as a paragon of its economy but also as a philanthropist who did so much good at home and abroad.
“He and his workers around the world forged an international reputation for excellence in energy.
“The Wood name also meant a helping hand to communities, wherever it went.”
He added it was “an honour” to learn from him while serving on the boards of Opportunity North East and Aberdeen City Region Deal, and offered his condolences to his family.
David Whitehouse, chief executive of OEUK, said: “Sir Ian Wood was one of the defining figures of the North Sea era.
“Through the Wood Review, he challenged 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 the Oil and Gas Authority, and the sector we know today would be very different without Sir Ian's vision, leadership and persistence.
“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."
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