WG. Wood Group (john) Plc

 
TIDMWG. 
 
John Wood Group PLC ("Wood") 
 
Board changes 
 
The UK Corporate Governance Code published by the Financial Reporting Council 
in July 2018 requires that the Chair should not remain in post beyond nine 
years from the date of first appointment to the board, other than for a limited 
time to facilitate succession planning and the development of a diverse board. 
Ian Marchant was first appointed to the Wood board in 2006 and, accordingly, he 
intends to resign as a director and Chair of the board within the next twelve 
months. Ian will remain as a director and Chair of the board until his 
successor is appointed, to ensure an orderly transition, and will offer himself 
for re-election at the company's upcoming AGM. A process to identify a 
successor is underway. 
 
Jann Brown has also indicated her intention to resign as a director and as 
Chair of the Audit Committee. Jann has been non-executive director and Chair of 
the Audit Committee since May 2014.  She is resigning due to commitments to 
other executive responsibilities. The board intends to appoint an additional 
non-executive director to replace Jann as Chair of the Audit Committee and has 
commenced a process to identify a suitable candidate. Jann will remain as a 
director and Chair of the Audit Committee until her successor has been 
appointed, which is expected to be within the next six months, and will offer 
herself for re-election at the upcoming AGM. 
 
Linda Adamany has given notice of her intention to resign, for personal 
reasons, as a director with effect from May 1, 2019. Linda was appointed as a 
director of Wood in October 2017, following the acquisition of Amec Foster 
Wheeler plc. Prior to that, she had been a director of Amec Foster Wheeler plc 
since October 2012. In line with its previously-stated intention to reduce the 
size of the board following the Amec Foster Wheeler acquisition, Wood does not 
intend to appoint a replacement for Linda. 
 
Ian Marchant commented: "I would like to thank both Jann and Linda for their 
dedication to Wood. They have provided invaluable support to Wood at a time of 
significant development and we wish them the very best for the future. I have 
thoroughly enjoyed my time on the Wood board and feel I will be able to step 
down with the business in good shape with a sound platform for sustainable 
growth in the coming years. " 
 
Notification authorised by: 
Martin J McIntyre, Company Secretary 
 
Enquiries: 
For further information, please contact: 
John Wood Group PLC 
Andrew Rose 
01224 851000 
 
 
 
END 
 

(END) Dow Jones Newswires

March 19, 2019 03:01 ET (07:01 GMT)

Wood Group (john) (LSE:WG.)
Historical Stock Chart
From Mar 2024 to Apr 2024

Wood Group (john) (LSE:WG.)
Historical Stock Chart
From Apr 2023 to Apr 2024