“Wood Group CEO Ken Gilmartin Exit After Sidara Takeover Vote – Investors Watch Oilfield Services Shift”

By MD Rubel islam " Global Finance News

Updated: October 15, 2025, 3:7 PM GMT+6 

“Wood Group CEO Ken Gilmartin to exit after Sidara takeover vote. Interim CFO Iain Torrens takes charge of John Wood Group PLC, reshaping British oilfield services and impacting Wood Group shares.”

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• John Wood Group PLC (Wood Group) – a leading British oilfield services and engineering firm.
•  CEO Ken Gilmartin will step down next month following the Sidara takeover vote.
•  Dubai-based Sidara has made a £216 million bid to acquire the company.
•  The shareholders vote is scheduled for November 12, 2025.
•  Interim CFO Iain Torrens will take charge as the new acting Wood Group CEO.
• . Under Gilmartin’s leadership, Wood Group shares fell nearly 88%, and the share suspension remains in effect.
• . This Sidara takeover is seen as a turning point for the British engineering and oilfield services industry.

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Wood Group CEO to Exit Following Sidara Takeover Vote: A Turning Point for British Oilfield Services

By Global Finance Desk | October 15, 2025

 H1: Wood Group CEO to Exit After Sidara Takeover Vote – What It Means for Investors

British oilfield services and engineering firm John Wood Group PLC (Wood Group) has entered a crucial transition period as CEO Ken Gilmartin prepares to step down.

Pakistan, IMF, $1.2B Deal, PIA Privatization

The announcement follows a 216-million-pound takeover bid by Dubai-based Sidara, marking a historic shift for the Aberdeen-based company.

This strategic move could reshape the UK’s oilfield services and engineering services sectors while sending ripples across international energy markets.

 H2: The Story Behind the Sidara Takeover

In a dramatic boardroom development, Wood Group shareholders are set to vote on November 12, deciding the fate of the Sidara takeover.

The deal, worth £216 million ($288.6 million), reflects Sidara’s growing ambition to expand its global footprint in sustainable energy and industrial design.

The British engineering firm, which has been battling challenges like audit delays, share suspension, and falling stock prices, now sees this takeover as a possible lifeline.

H2: Why Ken Gilmartin’s Exit Matters H3: 

Leadership Through Turbulence

Ken Gilmartin, who took over in July 2022, led Wood Group through one of its toughest times.

During his three-year tenure, the company faced:

• A lengthy bid process with multiple rejections
• Regulatory scrutiny delaying operations
• An audit delay that led to a share suspension still unresolved

Under his leadership, Wood Group shares dropped by nearly 88%, reflecting investor frustration and market volatility.

Despite the setbacks, Gilmartin focused on stabilizing operations and attracting new investors through improved governance and sustainability measures — a move praised by ESG trend analysts and the Sustainable Switch newsletter from Reuters.

 H2: Who Is Taking Over? Meet Iain Torrens

The Interim CFO, Iain Torrens, will step in as acting CEO after Gilmartin’s exit.

A seasoned executive with senior finance roles at TalkTalk Group and TP ICAP Group PLC, Torrens joined Wood Group’s board in February 2025.

Industry insiders say his appointment could help restore investor confidence and streamline the company’s post-takeover integration with Sidara.

> “Iain has the experience to guide Wood Group through this critical transition,” said one energy analyst based in Aberdeen, United Kingdom.

 H2: Inside Sidara’s Ambition – A Dubai-Based Powerhouse

The Dubai-based Sidara has been rapidly expanding across engineering services and sustainable design sectors.

This acquisition of John Wood Group PLC is part of Sidara’s larger strategy to gain a foothold in Europe and the United Kingdom.

Sidara executives claim their partnership model emphasizes innovation, clean energy transition, and digital transformation — aligning with global ESG trends that are reshaping the energy landscape.

 H2: Investor Sentiment – A Cautious Optimism

Although the takeover vote has sparked excitement, investors remain cautious.

Analysts point out that Wood Group shares will only recover if the share suspension is lifted and the company re-establishes operational transparency.

Still, the 216-million-pound bid has been viewed as a fair valuation for a company struggling to regain stability.

The Aberdeen-based company’s alignment with Sidara could unlock new opportunities in renewable engineering, project management, and sustainability — areas where Sidara excels.

 H2: ESG and the Future of Wood Group

Sustainability is now a critical factor for investors worldwide.

Under Sidara’s leadership, Wood Group may integrate stronger ESG principles, emphasizing:

• Renewable energy solutions
• Ethical governance
• Environmental responsibility

The Sustainable Switch newsletter highlighted that this merger could be a model case of how traditional energy firms can evolve toward green transformation — something global investors are watching closely.

H2: What’s Next After the Takeover Vote?

If the takeover vote on November 12 passes, Sidara will officially control Wood Group, and Ken Gilmartin will step down both as CEO and director.

Iain Torrens will serve as interim CEO, guiding the company through integration and strategy realignment.

The focus will likely shift to:

• Restoring investor confidence
• Lifting the share suspension
• Aligning with Sidara’s sustainable engineering goals
• Strengthening operations in Aberdeen and the wider United Kingdom

 H2: Final Thoughts – A Defining Moment for British Engineering

The Wood Group–Sidara takeover isn’t just a corporate reshuffle; it symbolizes a broader evolution in the British oilfield services industry.

From Aberdeen to Dubai, the merger highlights how global partnerships are driving innovation and sustainability.

As Ken Gilmartin exits, Iain Torrens steps in at a time of transformation.

For investors, this could be a pivotal moment to re-evaluate the future of Wood Group shares and the company’s role in shaping the next phase of energy and engineering services.

 Read more details 

Wood Group CEO Exit After Sidara Takeover