Mr Balan has been CFO for Rolls-Royce, the FTSE 100 aerospace and defence giant, for the last two years, and previously held a number of executive financial leadership roles at Shell, where he worked for 14 years in the UK, Singapore, and China. He is a chartered accountant who holds an MBA from the Indian Institute of Management and will be based in London.

READ MORE: Scotland tourism: ‘Concerning’ visitor trend hitting trade

Mr Balan replaces David Kemp, who has held the role since 2015 and announced his intention to retire in August.

Wood chairman Roy Franklin 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.”

Mr Balan 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.”

The appointment comes after Wood raised its outlook for its full financial year in August, following a string of new contract wins that chief executive Ken Gilmartin hinted would continue.

Leave a Reply

Your email address will not be published. Required fields are marked *