ENGINEERING business Wood has announced a new boardroom appointment.
The Aberdeen-based company, which employs 40,000 people in more than 60 countries, said Craig Shanaghey was joining its operations business unit as executive president.
The role means Mr Shanaghey joins Wood’s board of directors and will have responsibility for 17,000 people working in the delivery of operations around the world, the company said.
Wood, which trades on the London Stock Exchange as John Wood Group, is an engineering and consulting company working across energy, infrastructure and industrial markets.
The company’s operations business helps clients manage critical assets in industries including transport, power generation, water, pharmaceuticals and government infrastructure.
Mr Shanaghey, who is based in Aberdeen, started his working life as a mechanical apprentice in the West of Scotland and has a career spanning the pharmaceuticals, oil, gas and broader energy sectors, Wood said.
His latest role before joining the executive team involved leading Wood’s operations business across Europe, the Middle East and Africa, where he achieved “significant growth,” Wood said.
Mr Shanaghey said he was delighted to be joining the executive leadership team at an “exciting time” for Wood and that he saw “significant potential” for the operations business.
Wood chief executive Ken Gilmartin said Mr Shanaghey was a “seasoned, successful and proven leader” with experience in a range of operational and leadership roles.
He has 18 years of experience with Wood and recognised the “further potential within the operations business unit,” Mr Gilmartin added.
Mr Shanaghey succeeds Stephanie Cox, who has decided to leave the business.
In a half-year trading update earlier this month, Wood said its operations unit had grown revenues around 17% to $1.2 billion, reflecting “higher activity from stronger market conditions in conventional energy, especially in Europe and the Middle East.” Adjusted earnings were around 14% lower at $95 million, reflecting a lower level of contract completions and supply chain issues in the area of turbines joint ventures.
As of the end of May this year, Wood said its operations unit had an order book of around $3.7 billion, up around 2% from December 2021 and 14% year-on-year.
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