Mr Balan’s financial acumen, honed through his recent tenure as CFO of Rolls-Royce’s Civil Aerospace division – a business generating around £6 billion in annual revenue – positions him to spearhead Wood’s strategic financial initiatives.

With a series of executive financial leadership roles over a 14-year stretch at Shell that saw him operate across the UK, Singapore, and China, Mr Balan brings to Wood a deep understanding of the energy and engineering sectors. He is also a seasoned chartered accountant with an MBA from the Indian Institute of Management.

Set to be based in London, his appointment aligns with Wood’s transformative aspirations and will be subject to shareholder approval at the AGM scheduled for May 2024.

Mr Balan will be stepping into the role following David Kemp’s retirement, with Kemp having paved the path for a seamless transition within the company’s financial leadership.

Roy Franklin, Wood’s chairman, said: “We are delighted Arvind is joining us at an exciting time for Wood. His deep industry experience in energy and engineering businesses, coupled with his strategic financial leadership to deliver purposeful and profitable growth is a great fit.

“I know Arvind will be a strong addition to Wood’s board of directors and the executive leadership team at a time of continued transformation for Wood.

“I also thank David for his years of service to Wood and wish him every success for the future.”

Ken Gilmartin, Wood’s CEO, added: “Arvind is an experienced and dynamic financial leader with strong capital markets and operational experience in industries and geographies in which Wood excels.

“He is passionate about growth and transformation, and I look forward to working with Arvind on realising our significant potential. I echo Roy’s thanks to David for his leadership and commitment to Wood.”

Mr Balan said: “Wood has always stood out for me as a company with unique potential. With over 35,000 highly skilled employees, long standing client relationships and world class technical capabilities, the company is well placed in its growth journey as a leader in the energy and material markets.

“I’m delighted to join as CFO to help drive growth in a very exciting time in the company’s transformation. It is a privilege to join Wood’s board and executive team to deliver collective success for our employees, clients and shareholders.”