John Wood Group PLC (LON: WG) announced a significant leadership change, with Ken Gilmartin stepping down as Group CEO and Director.
The move comes as the company navigates a challenging period and prepares for a shareholder vote on the Sidara transaction. Gilmartin will remain in his role to ensure a smooth handover.
Iain Torrens, the current interim Group CFO, will assume the CEO position upon Gilmartin's departure. Torrens brings over three decades of senior leadership experience from listed companies, including roles at TalkTalk Group plc and ICAP plc. His background includes strategic transformation and corporate governance.
A search for a permanent CFO is said to be underway, and further announcements regarding the appointment and the timing of Gilmartin's exit will be made in due course.
The company faces the immediate task of delivering its full year 2024 audited accounts and half year 2025 results.
Roy Franklin, Chair of Wood's Board, expressed confidence in Torrens' ability to lead the company, citing his experience and leadership. Franklin also thanked Gilmartin for his service.
Torrens emphasized his commitment to supporting the company's global team and strengthening client confidence. He highlighted the importance of driving performance and shaping a resilient future for Wood.
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