Wood Group (John) PLC Appointment of new CFO (9439R)
01 Noviembre 2023 - 1:00AM
UK Regulatory
TIDMWG.
RNS Number : 9439R
Wood Group (John) PLC
01 November 2023
1 November 2023 This announcement contains inside
information
Appointment of new CFO
John Wood Group PLC ('Wood' or 'the Company') today announces
the appointment of Arvind Balan to the Company's Board as Chief
Financial Officer (CFO) and Executive Director, effective from 15
April 2024 .
Arvind has been Chief Financial Officer of the Civil Aerospace
business of Rolls-Royce, the FTSE 100 aerospace and defence
company, for the last two years. The Civil Aerospace business has
annual revenue of around GBP6 billion and employs around 18,000
people.
Prior to this, Arvind held a number of executive financial
leadership roles at Shell where he worked for 14 years across the
UK, Singapore and China. He is a chartered accountant and holds an
MBA from the Indian Institute of Management. He will be based in
London.
Arvind's election as a director will be subject to approval by
the Company's shareholders at the AGM in May 2024. He will succeed
David Kemp, whose intention to retire was announced on 22 August
2023. David will remain with Wood to ensure a smooth transition and
a further announcement will be made when the date of his retirement
is known.
Roy Franklin, Wood's Chairman, said:
"We are delighted Arvind is joining us at an exciting time for
Wood. His deep industry experience in energy and engineering
businesses, coupled with his strategic financial leadership to
deliver purposeful and profitable growth is a great fit. I know
Arvind will be a strong addition to Wood's Board of Directors and
the executive leadership team at a time of continued transformation
for Wood. I also thank David for his years of service to Wood and
wish him every success for the future."
Ken Gilmartin, Wood's CEO, said:
"Arvind is an experienced and dynamic financial leader with
strong capital markets and operational experience in industries and
geographies in which Wood excels. He is passionate about growth and
transformation, and I look forward to working with Arvind on
realising our significant potential. I echo Roy's thanks to David
for his leadership and commitment to Wood."
Arvind Balan, incoming Chief Financial Officer, said:
"Wood has always stood out for me as a company with unique
potential. With over 35,000 highly skilled employees, long standing
client relationships and world class technical capabilities, the
company is well placed in its growth journey as a leader in the
energy and material markets. I'm delighted to join as CFO to help
drive growth in a very exciting time in the company's
transformation. It is a privilege to join Wood's Board and
executive team to deliver collective success for our employees,
clients and shareholders."
There is no further information that is required to be disclosed
under Listing Rule 9.1.13R of the UK Listing Authority.
The person responsible for arranging the release of this
announcement on behalf of Wood is Martin McIntyre, Group General
Counsel and Company Secretary.
For further information:
Simon McGough, President, Investor
Relations +44 (0)7850 978 741
Alex Le May / Ariadna Peretz, +44(0)2037271340 FTI_Wood@FTIconsulting.com
FTI Consulting
Note
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 in accordance with
section 430(2B) of the Companies Act 2006 will be released.
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END
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November 01, 2023 03:00 ET (07:00 GMT)
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