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