UK's Wood Group Ropes in Rolls-Royce exec as New CFO
Balan, a finance executive at Rolls-Royce, as the British oilfield services and engineering firm's new chief financial officer, effective April 2024.Balan has been the CFO at the aero-engineer's Civil Aerospace business for two years and will replace John Wood's long-term finance boss David Kemp, who announced his retirement in August. Balan previously held executive financial roles at oil major Shell for fourteen years, before joining Rolls Royce.The appointment comes several months after buyout firm Apollo Global Management dropped its plan to buy the London-listed John
Wood Group Raises Profit Outlook on Contract Wins; CFO to Retire
30, which is 5% above December-end levels.Wood expects adjusted core profit for the full-year to be above its previous expectations while revenue is seen to be around $6 billion. The company clocked annual revenues of $5.4 billion in 2022.Separately, the company also announced that its finance chief David Kemp would retire but remain in the role until a successor is appointed.(Reuters
Kemp Succeeds Semple at Wood Group
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. 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: &ldquo
