One of Scotland's most successful businessmen and the peer who led the commission on Scottish devolution in the wake of the independence referendum have been recognised in the Queen's Birthday Honours List.

Sir Ian Wood has been made a Knight Grand Cross of the Order of the British Empire for his services to the UK oil and gas industry, employment of young people in Scotland, and his philanthropy.

Lord Smith of Kelvin, the man who led the commission on Scottish devolution in the wake of the independence referendum, has been given a rare and prestigious award in the Queen's Birthday Honours.

The Glaswegian has been made a Member of the Order of the Companions of Honour for his contribution to public service.

Sir Ian, who was given a knighthood in 1994, is believed to be the first Aberdonian to receive the rare award, which is presented for exceptional service.

Th former chief executive of the Wood Group said: "This was really a big surprise – I was very happy with my knighthood! It’s obviously a huge honour for myself and my family, but I truly believe it’s recognition for the oil and gas industry, for Aberdeen and its contribution to that industry and for the people with whom I have worked over the years.

"Wood Group’s success was down to the amazing, inspirational, professional and dedicated contributions of many, many fine people.

"I have been fortunate to work in an exciting, pioneering industry which has greatly benefited the North East of Scotland, but we are now facing extremely testing times.

"This award simply strengthens my resolve to work with others to ensure that our industry and our city can rise above the challenges and secure a bright future for future generations."

Sir Ian remains chairman of The Wood Foundations, the Scottish-based charity which works in Scotland to encourage good citizenship among young people and is East Africa to help thousands of tea farmers improve their yield, quality and price.

The Aberdeen businessman said: “I am particularly proud that the family’s philanthropic activities are now having a real impact."

Meanwhiel, Lord Smith's has received his award for "conspicuous national service".

The Smith Commission produced a package of recommendations which have led to new tax and welfare powers being devolved to Holyrood in the latest Scotland Act.

Lord Smith also had a key role in delivering the 2014 Commonwealth Games in Glasgow after being appointed chairman of the event's organising committee.

The crossbench peer has combined his many and varied commercial interests with significant roles that have put him at the heart of public life in Scotland.

With a lifelong interest in museums, he was quick to snap up the role of chairman of National Museums Scotland and described the opening of the new Museum of Scotland as one of the proudest days of his life.

A former BBC Governor and head of the Broadcasting Council for Scotland, he also held the role of chairman of the BBC's Children in Need.

In 2003 he was invested as chancellor of Paisley University, which became the University of the West of Scotland, and held the role until September last year.

Educated through a bursary at Allan Glen's School in Glasgow, he went on to qualify as a chartered accountant in 1968 and held senior positions with National Commercial and Glyns Ltd, the Royal Bank of Scotland and Charterhouse Bank.