Wood Group CEO Gilmartin to Step Down After Sidara Takeover Vote

John Wood Group Plc said Chief Executive Officer Ken Gilmartin plans to step down and will be replaced by Iain Torrens.

Gilmartin will leave after shareholders vote on a planned takeover by engineering firm Sidara, the company said in a statementBloomberg Terminal on Wednesday. Torrens, currently interim chief financial officer, joined the leadership team in February.