New CEO to help Wood capture ‘growth opportunities in energy security’

UK oilfield services provider Wood Plc has appointed a new Chief Executive Officer (CEO), replacing its current one, who will be stepping down from the board in a few days.

Wood revealed the appointment of Ken Gilmartin as CEO on Tuesday. The company says that Gilmartin’s appointment, which will become effective from 1 July 2022, follows “an extensive selection process” that considered both internal and external candidates.

Roy Franklin, Wood Chairman, remarked: “Ken has brought a wealth of industry experience and excellent strategic and leadership skills to Wood, and I am delighted that he will be our new Chief Executive Officer.

“He has impressed the board with the impact he has made over the last nine months, where he has brought clarity, structure and focus, and a strong client-centric mindset to the role, and by his drive to lead the development of Wood’s future strategy. The board believes he is a great fit for Wood, with the combination of skills and experience to lead the business through its next strategic phase.”

Gilmartin will succeed Robin Watson, who announced his intention to retire in April 2022. According to Wood, Watson will step down from the board on 1 July 2022 and will remain with Wood until 30 September 2022 in an advisory role to support “a smooth transition.”

“On behalf of the board, I thank Robin for his many years of service to the company and wish him all the best in his retirement,” added Franklin.

Prior to joining Wood as Chief Operating Officer (COO) in August 2021, Gilmartin spent 15 years with Jacobs in a variety of executive, operational and project leadership roles and most recently, he served as Executive Vice President of the firm’s People & Places solutions business, responsible for more than half of Jacobs’ overall business portfolio, serving public and private sector clients across a wide range of end markets.

Ken Gilmartin, Wood’s incoming CEO, commented: “I joined Wood because I could see the great potential in the company, knowing the value of the skills and expertise required to deliver complex and critical projects, operations, and consultancy solutions. In my short time with the business, I have been impressed by the quality of our people, and the strength of our culture and our client relationships, which provide strong foundations on which to build in the years ahead.

“I believe we have an exciting future in front of us as we capture growth opportunities in energy security and sustainability and deliver value for our shareholders over the medium term. I will work with Robin on a seamless transition and thank him for the guidance he has given me over the last nine months.”

Gilmartin, who has over 25 years of experience, has worked internationally throughout his career including leading the delivery of “major projects, and running major operations,” in Europe, Asia, North America, and the Middle East.

Robin Watson, Wood’s current CEO, stated: “After ten years on the board of Wood and having reached an agreement for the sale of our Built Environment business, I am pleased that Ken will now lead the company into its next phase. I wish Ken and everyone at Wood all the best and a very bright future.”