Legendary Scottish businessman Ian Wood has died at his Aberdeen home at the age of 84.
Wood was one of Scotland’s most influential industrialists, philanthropists and public servants.
Over six decades, he transformed a family-owned Aberdeen marine business into a global engineering company, helped shape the future of the UK’s energy industry, and devoted the latter part of his life to creating opportunities for young people and improving communities in Scotland, Africa and beyond.
Few individuals left a greater imprint on modern Aberdeen.
Through his leadership he helped establish the city as one of the world’s leading centres of offshore energy while championing its transition towards a more diverse and sustainable economy.
Born in Aberdeen in 1942, Wood was the middle child of John and Margaret Wood and was raised, alongside his sisters, Meg and Lorna, in a family with deep roots in the city’s fishing and maritime industries.
He was educated at Robert Gordon’s College, later graduating from the University of Aberdeen with a first-class honours degree in psychology in 1964.
A gifted sportsman throughout his school and university years, he excelled at rugby, playing lock forward for the North & Midlands District XV, including in a match against the All Blacks at Pittodrie Stadium in 1972.
Following graduation, Wood joined the family fishing and marine engineering business, becoming managing director of John Wood and Son (latterly JW Holdings) in 1967 where he oversaw significant expansion.
He continued as Chairman of the legacy business, the Don Fishing Company Ltd, until his death and it remains one of Scotland’s leading fish selling and vessel management companies.
Under Wood’s leadership, the business diversified from its traditional roots. When the North Sea oil and gas industry was still in its infancy, he saw an opportunity in pivoting the business to meet the needs of the emerging energy sector — despite the reservations of his father, John.
John Wood expressed concern about attaching too much importance to oil, but his son was confident that Aberdeen’s future lay in energy – a judgement that would define both his career and the fortunes of the city over the next four decades.
Rapid growth followed, with Wood Group becoming a stand-alone company in 1982 focused on delivering engineering, oilfield logistics and drilling services to domestic and global markets.
Wood Group’s success helped anchor wider development of Aberdeen’s world class energy supply chain.
When Wood Group became a public company in 2002 it marked another milestone in its growth. By the time Ian Wood stepped down as CEO in 2006 and as chairman in 2012, the business had become one of the UK’s leading international engineering companies, joining the FTSE 100 and employing more than 42,000 people across more than 50 countries.
In 1970, he married Helen Macrae and in the years that followed they welcomed three sons, Nicholas, Graham and Garreth. In 2007, Ian and Helen Wood established The Wood Foundation. Together they pioneered an approach to venture philanthropy that combined long-term investment, practical expertise and high expectations to help people build better futures for themselves.
In Scotland, the Foundation introduced the Youth and Philanthropy Initiative (YPI), inspiring hundreds of thousands of young people to engage with social issues and charitable giving, and working with schools to support young people develop skills in enterprise and STEM and improve their employability.
The Foundation also made major gifts to youth sport initiatives across North-east Scotland, NHS Grampian, Robert Gordon’s College, Albyn School, and Robert Gordon University, for which Wood served as Chancellor from 2004 to 2021.
Internationally, the Foundation built enduring partnerships in East Africa, most notably in Rwanda, where it continues to work with more than 100,000 smallholder tea farmers. The Foundation’s impact has come from equipping the farmers with the finance, skills, operational and marketing support to build sustainable industries, significantly improving their incomes and quality of life.
Wood’s influence on national policy in the UK and Scotland was also significant. Commissioned by the UK Government in 2013 to conduct an independent review of offshore oil and gas recovery, the resulting Wood Review (2014) reshaped regulation of the UK continental shelf and led directly to the establishment of today’s North Sea Transition Authority.
In the same year, he chaired the Scottish Government’s Commission for Developing Scotland’s Young Workforce, the recommendations of which fundamentally strengthened the relationship between education and employers and continues to shape opportunities for young people across the country.
Having served as Chairman of Scottish Enterprise from 1997 to 2000, Wood was a strong proponent of place-based regional economic development and he became a driving force in shaping North-east Scotland’s next chapter, chairing two not-for-profit private-sector-led economic development companies enabled by over £100 million in support from the Wood Foundation.
Wood died peacefully at his home in Aberdeen on Sunday, July 26, 2026. He is survived by his wife Helen, their sons Nicholas and his wife Sarah, Graham and his wife Gillian, Garreth and his wife Nicola, and by seven grandchildren.
The Wood family said in a statement: “Sir Ian was a devoted husband, father, grandfather and friend. 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.
“Born and raised in Aberdeen, Sir Ian dedicated his life to building opportunities for others. 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.
“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 respectfully requests privacy at this time as they mourn his loss.
“May the tea in Heaven always be ‘extra hot’.”