The group, which employs 40,000 people in more than 60 countries, said Ken Gilmartin would take up the post from early July. He succeeds Robin Watson, who announced his intention to retire in April.
Watson will leave the board on July 1 but will remain with the group until the end of September in an advisory role to “support a smooth transition”.
After 15 years at Jacobs, Gilmartin joined Wood as Chief Operating Officer in August 2021. During his time at Jacobs, he held various management, operations and project leadership positions.
With over 25 years of experience, Gilmartin has worked internationally throughout his career, including leading the delivery of major projects and leading major operations, in Europe, Asia, North America and the United States. Middle East.
He will receive a base salary of £750,000 as chief executive with a maximum annual bonus opportunity of 175% of salary. The new boss will also receive a gross allowance of £150,000 to help him move to the UK.
He will have to build and maintain a minimum stake equal to 250% of base salary, the group noted.
Chairman Roy Franklin said, “Ken brought to Wood extensive industry experience and excellent strategic and leadership skills. He has impressed the board with the impact he has had over the past nine months, where he has brought clarity, structure and focus, and a strong customer-centric mindset, and his drive to lead the development of Wood’s future strategy. .
“The board believes he is a perfect fit for Wood, with the combination of skills and experience to lead the business through its next strategic phase.”
Gilmartin said, “I joined Wood because I could see the great potential in the business, knowing the value of the skills and expertise required to deliver complex and mission-critical projects, operations and consulting solutions.
“During my short time with the company, I have been impressed by the quality of our people, as well as the strength of our culture and our relationships with our customers, which provide a solid foundation on which to build. in the years to come.
“I believe we have an exciting future ahead of us as we seize growth opportunities in energy security and sustainability and create value for our shareholders over the medium term.
“I will work with Robin on a smooth transition and thank him for the guidance he has given me over the past nine months.”
Watson added: “After ten years on the Wood Board and having reached an agreement for the sale of our Built Environment business, I am delighted that Ken is now leading the business into its next phase. I wish Ken and everyone at Wood all the best and a very bright future.
Earlier this month, Wood hailed the opening of a “new chapter” with the sale of its built environment consultancy arm in a deal worth around $1.9 billion. dollars (£1.5 billion).
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