Wood Group CFO resigns after inaccurate statements about qualifications

(Sharecast News) - The chief financial officer of Wood Group has resigned with immediate effect following an incorrect description of his professional qualifications in various statements in the public domain. Wood Group said in a statement on Wednesday that an announcement on Arvind Balan's successor, and interim cover, will be made in due course.

Balan said: "Regrettably, I made an honest oversight with respect to the description of my professional qualification as a chartered accountant instead of a certified practicing accountant.

"I continue to believe in the long-term potential of the company and its people. My decision is based on minimising distraction at this very pivotal time with our investors and lenders."