Mr Torrens will also join the company’s board as an executive director, effective immediately. His appointment is interim while the company conducts a comprehensive search process for a permanent CFO, following the resignation of former CFO Arvind Balan after inaccurate claims about his chartered accountant qualifications.

A fellow of the Institute of Chartered Accountants in Ireland, Mr Torrens brings over three decades of finance experience. He was previously an executive director and group CFO at several UK public companies, including TalkTalk Group plc, and ICAP plc, a global financial services group. Most recently, he was chairman and non-executive director of Guernsey headquartered Praxis Group Ltd, a role he held until October 2024.

Mr Torrens said: “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.”

Ken Gilmartin, Wood’s CEO, said: “The board and I acted quickly to appoint an interim CFO. 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.

“I look forward to working closely with Iain in this next phase to ensure a strong and sustainable future for Wood. The search to identify a permanent CFO for the Group will continue.”