FIRST Minister John Swinney has led tributes to the billionaire Scottish philanthropist Ian Wood, who died on Sunday.
Wood, who made his fortune by transforming his family’s Aberdeen-based boat repair business into a global oil and gas services firm, passed away five days after his 84th birthday, his family confirmed in a statement on Monday.
In May, Wood and his family were ranked third on Scotland's rich list, with an estimated fortune of £1.876 billion, according to The Sunday Times. Until his death, Wood chaired not-for-profit economic development companies, including Opportunity North East and Energy Transition Zone Ltd, backed by funding from The Wood Foundation.
First Minister John Swinney paid tribute to Wood “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”.
Swinney went on: “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.
“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.”
Stephen Flynn, the Scottish Economy Secretary and MSP for Aberdeen Deeside and North Kincardine, added: “Sir Ian Wood was a titan of industry and his achievements will rightly be remembered for generations alongside his enduring love for Aberdeen, and his dedication to ensuring the city and its people could thrive.”
Martin Gilbert, the founder of Aberdeen Asset Management and chairman of Revolut, said: “Sir Ian Wood was a giant of Scottish business. I had the privilege of knowing and working with him for more than 40 years, and his extraordinary work ethic, attention to detail and natural charisma always stood out.
“He commanded enormous respect, but he was also incredibly supportive – particularly during the early years of Aberdeen Asset Management, where his guidance and encouragement were invaluable.
“Building a truly global company from Aberdeen was a remarkable achievement, and no one has contributed more to the north east of Scotland. He was an exceptional businessman and an amazing man.”
David Whitehouse, the chief executive of Offshore Energies UK, 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."
Neil McCulloch, the chief executive of Adura, said: “I count myself very fortunate to have known and worked closely with Sir Ian and found him to be an inspirational figure who achieved a huge amount for the industry, region and city that he loved.
“Sir Ian’s generosity, vision and drive to lead the Wood Review and later establish both Opportunity North East and the Energy Transition Zone means his legacy will last for generations. A true pioneer, my thoughts are with Sir Ian’s friends and family.”
