New board members for new year at Wood Group

Energy services giant John Wood Group said bosses Mark Dobler and Robin Watson had joined the board as executive directors.

Energy services giant John Wood Group said bosses Mark Dobler and Robin Watson had joined the board as executive directors.

Mark Dobler is Chief Executive of Wood Group's GTS division and Robin Watson is Chief Executive of the PSN division.

In December the firm reported that it expects to deliver good growth this year, with overall conditions in energy markets remaining 'favourable'.

However, Dobler's GTS arm was a cause for concern at the time, along with Engineering.

"Overall, performance for 2012 is anticipated to be in line with expectations," Wood Group said then.

"We anticipate further good growth in 2013 and remain confident in the longer term prospects for the group's market leading services in oil & gas and gas fired power generation markets."

But shares were hit by reports of mixed conditions in the Engineering and GTS divisions.

Credit Suisse said at the time that it had cut its Wood Group forecasts for 2013 and expected consensus forecasts to come down as well, largely on softer GTS profits.

MM

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