John Wood Group PLC ('Wood' or 'the Group') announces that after ten years with the business, David Kemp, Chief Financial Officer (CFO), has advised the Board of his intention to retire as CFO. The process to appoint his successor is now underway and David will remain in his role until a successful candidate is in place.
David joined Wood in 2013 as CFO of the former Wood Group PSN business, which is now part of Wood's Operations business unit. He joined the Board in January 2015 and was appointed CFO in May 2015.
Most recently, David has played an important role in the Group's response to Covid, the transformational sale of Built Environment Consulting, and in supporting Ken Gilmartin, CEO, in setting out the Group's new growth strategy.
Roy Franklin, Chairman, said:
"David has made a very significant contribution to Wood since joining back in 2013, helping to build a more diversified company and leading our financial recovery over the last few years. On behalf of the Board, I would like to thank David for his years of service and wish him every success for the future."
Ken Gilmartin, CEO, said:
"I have really valued David's support and leadership since I joined Wood. In the last year we have worked together to transform the company - a new business model, facing growth markets, with a clear strategic plan. David leaves Wood in a strong position to capitalise on the significant opportunities in front of us. I sincerely thank him for that and wish him all the best for the future."
David Kemp, CFO, said:
"In my ten years here, we transformed from a predominantly oil and gas services business to the diversified company we are today. I know Wood is well positioned for the future and I will give Ken and the Board all my support to continue delivering on our strategy until my successor is in place."
For further information:
Simon McGough, President, Investor Relations
+44 (0)7850 978 741
Alex Le May / Ariadna Peretz, FTI Consulting
+44 (0)20 3727 1340
The person responsible for arranging the release of this announcement on behalf of Wood is Martin McIntyre, Group General Counsel and Company Secretary.
Once the date of David Kemp's retirement has been decided a further announcement concerning the date will be made, and a statement concerning particulars of remuneration payments in accordance with section 430(2B) of the Companies Act 2006 will be released.