Sir Ian Wood retires warning Aberdeen 'must invest'
30 October 2012 Last updated at 14:58 GMT
One of Scotland's most successful businessmen will retire with a warning for his native city of Aberdeen.
It has been 40 years since Sir Ian Wood spotted the opportunity of North Sea oil.
He leaves Wood Group as a global leader in its field and with his family fortune worth more than £1bn.
Sir Ian spoke to BBC Scotland's business and economy editor Douglas Fraser.