Wood Group CFO to step down
- Business & Finance
Wood Group has announced that its chief financial officer (CFO) Alan Semple intends to retire and step down from his current role and from the board at the company’s annual general meeting in May 2015 at which time he will have held senior financial roles with Wood Group for over 19 years.
Alan Semple has been CFO and a member of the board since 2000. David Kemp, CFO of Wood Group PSN will succeed Semple and will join the board as an executive director following the 2015 annual general meeting. To ensure effective management of this change, Kemp will assume the role of deputy CFO from January 1, 2015.
Ian Marchant, chairman of Wood Group said: “As a long-term member of the board, Alan has played a significant role in shaping Wood Group into the company it is today, having been heavily involved in the transition from a private to a public company in 2002 and the significant growth and internationalisation of the business over many years. I have enjoyed working with him and on behalf of the board, wish him the best in his retirement.”
Bob Keiller, chief executive officer (CEO) of Wood Group said: “Alan is a trusted colleague and I’ve greatly valued his counsel and support in growing our business. I wish him well in his much deserved retirement. David has demonstrated great judgement, financial acumen and knowledge of both our business and the oil and gas industry, and will work with Alan to achieve an effective handover and to continue our focus on improving internal efficiency – I look forward to working with him in this new role.”
New role – Robin Watson as COO
The company says that recognising the breadth of Wood Group’s operations, and its longer term growth potential, the board is also creating a new role of chief operating officer (COO). Robin Watson, currently CEO of Wood Group PSN is to be appointed COO during the first half of 2015 with responsibility for the three strategic business units – Wood Group PSN, Wood Group Mustang and Wood Group Kenny.
According to the company, the timing of this move will depend on appointing a suitable successor for Robin Watson in his current role. Watson became CEO of Wood Group PSN in 2012 and appointed to the board on January 1, 2013. He joined the business in 2010 and has over 30 years engineering and industry experience.
Bob Keiller said: “Creation of the new COO role represents an exciting new phase of the Wood Group growth strategy. By focusing on collaboration across the group, we will create a stronger offering for our clients as well as achieving greater efficiencies in the way we operate.”
David Kemp was formerly a director of Trap Oil Group PLC from February 2011 to April 2013.