Sir Ian Wood, a central figure in the development of the North Sea oil sector, died at the age of 84. Wood began his career in Aberdeen, initially focusing on the local fishing industry before pivoting to the burgeoning oil and gas market. Over several decades, he expanded his operations into a multinational engineering conglomerate, Wood Group plc, which eventually operated in over 60 countries.

By the time Wood stepped down from his leadership role in 2013, the company had grown to a valuation of approximately $12 billion, with a workforce of 60,000 employees. His business success resulted in a personal fortune estimated at £2 billion. Following his retirement from active corporate management, Wood shifted his focus toward philanthropy, dedicating much of his time and resources to charitable initiatives, particularly those based in Scotland. His legacy is defined by both his role in the industrialization of the North Sea and his subsequent transition into a major philanthropic benefactor.