Aberdeen entrepreneur Sir Ian Wood, 82, has stepped down from his role of chairman at the Wood Foundation, a charity he founded in 2007.
The North Sea stalwart has served at the head of the north-east Scotland-based organisation for 18 years and is now making way for his son, Garreth Wood, who will assume the role of chairman.
The incoming chairman has served as vice chair under his father.
Reflecting on his time as chairman, Wood said: “It has been an immense privilege to lead this extraordinary organisation and work alongside such dedicated and passionate individuals.
“Together, we have transformed lives and built a legacy of positive change that will resonate for generations to come both in the UK and overseas.”
Wood passes on the torch
Throughout his tenure the charity invested in Saharan Africa and Scotland to foster education and encourage local business.
The foundation’s flagship UK programme, the youth and philanthropy initiative (YPI) is the largest programme of its type in Scottish education.
Since 2008, over £7.6 million has been granted to charities as a result of the efforts of over 350,000 young people working with the foundation.
YPI currently engages a full year-group of students in 280 Scottish secondary schools.
Wood’s son has already built up a background in leading such organisations as he currently chairs Kids Operating Room, a charity that provides life-saving surgeries to children.
The incoming chairman was also the co-founder of Kids Operating Room which formally launched in January 2018.
On his son’s appointment, Wood commented: “Garreth has a strong proven track record in leading a large international NGO.
“His experience, values, and dedication make him the ideal person to guide the Wood Foundation’s future. I am excited to see how, under his leadership, the Foundation will continue to expand its impact.”
However, the man behind Aberdeen-based engineering firm Wood will not be stepping away from his charity entirely.
Sir Ian will now take on the title of founder and president of the Wood Foundation.
He will also remain a trustee, alongside wife Lady Helen Wood and Graham Good, chartered accountant.
The group behind the ETZ
The Wood Foundation backed Opportunity North East (ONE) which set out its aim of creating a world-leading “Energy Transition Zone” (ETZ) in the south of Aberdeen back in 2020.
Wood now serves as chairman of ETZ Ltd, the firm behind bringing ONE’s plan to fruition.
The ETZ will be made up of three linked but separate areas along the coast, making up the project’s “campus” model.
The buildings will all aim to support the north-east with its efforts to shift towards renewables and a net zero future.
Construction began on the firm’s energy incubator, ETZ EnergyWorks, late last year.
The UK government has funded £5.5 million towards the project, with £2m from Scottish Enterprise alongside additional Scottish government funding, and £1.25m from BP.
Sir Ian’s family founded the Wood Group (LON: WG) which he led as until he retired from the role of chairman in 2012.
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