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Investing.com -- Wood Group (LON:WG)p on Thursday appointed Iain Torrens as its interim chief financial officer, effective immediately.
Torrens will also join the company’s board while the group conducts a search for a permanent CFO following the resignation of the previous executive.
Torrens, a fellow of the Institute of Chartered Accountants in Ireland, brings extensive experience in financial leadership.
“I am pleased to join Wood’s Board and executive management team. While there are clear challenges today, I am focused on the significant opportunity here and look forward to working with Ken and the team to help realise this,” said Iain Torrens, interim chief financial officer in a statement.
His prior roles include serving as Group CFO at various UK public companies, including a telecommunications firm and ICAP (LON:NXGN) plc, a global financial services group. Most recently, he was an executive director of Praxis Group, a Guernsey-based firm, until 2023.
“This is a critical period for Wood and Iain is a seasoned CFO with the necessary capital markets experience and proven leadership in refinancing and financial reporting, as well as risk management, audit and compliance,” said Ken Gilmartin, chief executive at Wood in a statement.
Shares of the global consulting and engineering company were down 4.5% at 05:11 ET (10:11 GMT).