Wood Group senior director to stand down

David Woodward, a senior independent non-executive director at oilfield services firm Wood Group, is to stand down.

In a statement to the London Stock Exchange on Monday, Wood Group said Woodward, who also officiates as the chair of the company’s remuneration committee, has advised that he intends to retire and step down from his current roles at the next corporate annual general meeting in May.

Wood Group named Jann Brown as Woodward’s successor to the post of senior independent non-executive director. Brown has been a non-executive director since 2014 and is the current chair of Wood Group's audit committee.

Additionally, Jeremy Wilson will succeed Woodward as chair of the remuneration committee. Wilson has been a non-executive director since 2011.

At 1412 GMT, Wood Group’s shares were down 2.17% or 14.50p to 652.50p.