Scottish billionaire Sir Ian Wood dies at 84

Sir Ian Wood, the Scottish billionaire who transformed a modest family fishing business into a global energy services giant and became a leading philanthropist, has died at the age of 84. His family confirmed he passed away peacefully at his home in Aberdeen on Sunday, July 26, 2026.

Wood was the visionary behind the Wood Group, a company that became synonymous with the North Sea oil and gas industry. He took over the family's Aberdeen-based business, John Wood and Son, in 1967 and pivoted it to service the burgeoning offshore energy sector. Under his leadership, the company expanded into a global force, operating across Asia Pacific, the Middle East, and the Gulf of Mexico following strategic acquisitions. The company was floated on the stock market in 2002 and later entered the FTSE 100, employing over 42,000 people at its peak before its eventual sale earlier this year.

Colleagues and political leaders paid tribute to Wood as a defining figure of the North Sea era. First Minister John Swinney described him as "one of Scotland’s most influential business leaders and philanthropists," whose vision helped establish Scotland as a world-renowned centre of energy expertise. Stephen...