Why did Arvind Balan resign from Wood Group?

Arvind Balan stepped down due to an incorrect description of his professional qualifications, mistakenly identifying himself as a chartered accountant instead of a certified practicing accountant.

What was Arvind Balan's previous experience before joining Wood Group?

Before joining Wood Group as CFO, Balan served as the finance chief at Rolls-Royce's Civil Aerospace business and held executive financial roles at Shell for fourteen years.

What financial outlook did Wood Group provide recently?

Wood Group forecasted negative cash flow for another year, following a challenging period marked by activist investor pressure and two unsuccessful takeover proposals.

Editorial & Advertiser disclosure

Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Home > Finance > UK's Wood Group CFO steps down after inaccurate description of qualifications

Finance

UK's Wood Group CFO steps down after inaccurate description of qualifications

Published by Global Banking & Finance Review®

Posted on February 19, 2025

1 min read

Last updated: January 26, 2026

Founders of The Entertainer toy chain hand over control to workers - Global Banking & Finance Review — Image depicting the founders of The Entertainer, Gary and Catherine Grant, announcing the transition of their toy retailer to employee ownership, emphasizing the significance of this move in the finance sector.

UK's Wood Group CFO steps down after inaccurate description of qualifications

Quick Summary

Wood Group CFO Resigns Following Misrepresentation of Qualifications

Key Takeaways

Frequently Asked Questions about UK's Wood Group CFO steps down after inaccurate description of qualifications