Changes to Wood Group senior management team

Wood Group announces the following changes to its senior management team.

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Nov 20, 2014, 02:05 ET

HOUSTON, Nov. 20, 2014 /PRNewswire/ -- Alan Semple, chief financial officer (CFO) has advised the board that he intends to retire and step down from his current role and from the board at the company's annual general meeting in May 2015, at which time he will have held senior financial roles with Wood Group for over 19 years. Alan has been CFO and a member of the board since 2000.

Wood Group CFO Alan Semple will retire in May 2015. He will be succeeded by David Kemp, CFO of Wood Group PSN.

David Kemp, CFO of Wood Group PSN, will assume the role of Group deputy CFO on January 1, 2015. He will succeed Alan Semple as Group CFO following Alan's retirement in May 2015.

Wood Group PSN Chief Executive Robin Watson will be appointed chief operating office of Wood Group in 2015.

David Kemp, CFO of Wood Group PSN will succeed Alan and will join the board as an executive director following the 2015 annual general meeting. To ensure effective management of this change, David will assume the role of deputy CFO from 1 January 2015.

Ian Marchant, chairman of Wood Group said: "As a long-term member of the board, Alan has played a significant role in shaping Wood Group into the company it is today, having been heavily involved in the transition from a private to a public company in 2002 and the significant growth and internationalisation of the business over many years. I have enjoyed working with him and on behalf of the board, wish him the best in his retirement."

Bob Keiller, chief executive officer (CEO) of Wood Group said: "Alan is a trusted colleague and I've greatly valued his counsel and support in growing our business. I wish him well in his much deserved retirement. David has demonstrated great judgement, financial acumen and knowledge of both our business and the oil and gas industry, and will work with Alan to achieve an effective handover and to continue our focus on improving internal efficiency. I look forward to working with him in his new role."

Recognising the breadth of Wood Group's operations, and its longer term growth potential, the board is also creating a new role of chief operating officer (COO). Robin Watson, currently CEO of Wood Group PSN is to be appointed COO during the first half of 2015 with responsibility for the three strategic business units – Wood Group PSN, Wood Group Mustang and Wood Group Kenny. The timing of this move will depend on appointing a suitable successor for Robin in his current role.

Robin became CEO of Wood Group PSN in 2012 and was appointed to the board on 1 January 2013. He joined the business in 2010 and has over 30 years engineering and industry experience.

Bob Keiller said: "Creation of the new COO role represents an exciting new phase of the Wood Group growth strategy. By focusing on collaboration across the group, we will create a stronger offering for our clients as well as achieving greater efficiencies in the way we operate."

Biographical notes:
Robin Watson (47) joined Wood Group in 2010 and was appointed to the board on 1 January 2013. Prior to joining Wood Group, Robin worked for Petrofac and Mobil Oil, working both in the UK and internationally. For more than 10 years he has played an active role in some of the oil and gas industry's representative bodies, namely as a board member of Oil & Gas UK and Oil & Gas UK Contractors Council and since 2011 has sat on the Scottish Business Board – a cross-industry leadership group chaired by the Secretary of State for Scotland. Robin is a chartered mechanical engineer, a fellow of the Energy Institute and holds an Honours Degree in Offshore & Mechanical Engineering and a Masters of Business Administration (MBA).

David Kemp (44) has over 20 years' experience in the oil and gas sector. David joined Wood Group as CFO of Wood Group PSN in 2013. Prior to joining Wood Group, David filled executive roles at Trap Oil Group, Technip, Simmons and Company International and Hess Corporation working across Finance, M&A and Operations. David is a member of the Institute of Chartered Accountants and holds an Honours degree in Accountancy from the University of Aberdeen.

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SOURCE Wood Group