Scottish businessman Sir Ian Wood dies aged 84

Renowned Scottish businessman Sir Ian Wood has died at the age of 84.

His family confirmed he died “peacefully at home, surrounded by his family” on Sunday evening at his home in Aberdeen.

Sir Ian, who was one of Scotland’s wealthiest people, transformed his family fishing business in 1967 into a household name in the North East oil and gas industry.

In a statement, his family paid tribute to the “devoted husband, father, grandfather and friend”. It said that while many know Sir Ian 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”.

It added: “Through the growth of the business that bore his family name and through decades of philanthropic work, he sought to create lasting positive change both in Scotland and around the world.

“His commitment to education, enterprise and social impact led to the creation of The Wood Foundation and numerous other initiatives around the world, which have helped young people, communities and families realise their potential. 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.  

“Despite his many achievements and honours, Sir Ian remained proudest of his family. He was a devoted husband to Lady Helen for 55 years, a loving father to Nic, Graham and Garreth, and grandfather to their 7 children. He was not only a source of wisdom, encouragement and strength to his family, but to so many others who knew him.”

In 2007, Sir Ian founded the Wood Foundation, where he carried out his philanthropic work. It is involved in many investments and charitable works in agriculture and conservation in East Africa, as well as projects in Scotland.

Reacting to his passing, First Minister John Swinney said his “legacy is one of enterprise, leadership and generosity”.

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.

“Through his leadership of Wood Group, he helped transform a modest family business into a global energy services company, playing a pivotal role in the growth of the North Sea oil and gas industry and establishing Scotland as a world-renowned centre of energy expertise.

“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.

“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.”  

Swinney added: “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.”

Scottish Conservative MP for Aberdeen South, Douglas Lumsden said: “Scotland has lost a true guiding light of its business community”.

He said: “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.

“It was an honour to listen to Sir Ian and learn from him when I served on the boards of Opportunity North East and the Aberdeen City Region Deal.

“I would like to offer my condolences to Lady Helen and the Wood family at this difficult time.”