Wood has announced it is in the process of identifying a new chief financial officer (CFO) following Iain Torren’s promotion to chief executive officer (CEO).

The announcement comes after the firm’s current CEO, Ken Gilmartin, informed the board of his intention to step down from the position.

Torrens joined the board in February as interim CFO, bringing over three decades of senior leadership experience across listed companies, including group CFO at TalkTalk Group and ICAP.

He most recently served as chairman at Guernsey-based financial services firm, Praxis Group, until October 2024.

Chair at Wood, Roy Franklin, said: "We are pleased to announce the appointment of Iain as Wood's new CEO. Since joining the company earlier this year, Iain has demonstrated experience, leadership and decisiveness to guide the business through a very challenging period. The board is confident he is well-placed to lead the company into its next chapter.

"On behalf of the board and the company, I would like to wish Ken all the best for the future."

Torrens concluded: "It's a privilege to lead Wood and our exceptional global team of over 35,000, who have remained committed to delivering for our clients through a difficult period. My immediate priority is delivering our full year 2024 audited accounts and half year 2025 results so we can move forward with clarity.

"I'm grateful for the opportunity to support our people, drive performance, and strengthen client confidence as we shape a resilient, growth-focused future for Wood."

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