Award follows organisation’s return to profit after previous deficits
Nicky Wood, Finance Director at the Royal Highland & Agricultural Society of Scotland (RHASS), has been named CFO of the Year for a Not-for-Profit Organisation at the Scottish CFO Awards 2026. The award recognises her role in the organisation’s financial turnaround and in helping to change its financial culture. This follows RHASS reporting a return to profit in April, achieving an operating (unrestricted) net income of £551,000 for the 2025 financial year, after deficits of £1.8 million in 2024 and £3.1 million in 2023.
As Group Finance Director, Ms Wood was instrumental in developing and delivering the RHASS Group’s financial turnaround plan. She worked with colleagues, directors, and trustees to strengthen its financial position and embed a shared sense of financial responsibility across the organisation. Her work spans RHASS’s charitable activities, the Royal Highland Show – its largest fundraising event, and the Royal Highland Centre’s year-round events business, building a more sustainable financial foundation for the Group and its mission of championing and supporting Scotland’s agricultural and rural communities.
Nicky Wood commented: “I’m incredibly honoured to have received this award, particularly alongside so many talented finance professionals from across Scotland. The past year has been an important one for RHASS, and I’m proud of what we’ve achieved together as a team. Returning the organisation to a surplus position has been a significant milestone, but just as importantly, we’ve been focused on building the foundations for long-term financial stability. A key part of this has been changing the financial culture across the Group, building a shared understanding of how our decisions support both our financial sustainability and our charitable purpose. RHASS has always been part of my life.
“As a farmer’s daughter, with a father, grandfather and great-grandfather who were all life members of the Society, I grew up competing at the Royal Highland Show, from pony classes to stock judging with the Young Farmers. Joining RHASS was an opportunity to use my professional experience to give something back to a Society that means a great deal to my family and to agriculture in Scotland. None of what we’ve achieved would have been possible without the hard work, dedication and support of our employees, directors and trustees, alongside continued support of the wider rural and agricultural community. To see that collective effort recognised by Scotland’s finance profession makes this award particularly special.”
RHASS’s return to surplus coincides with its progression of an ambitious five-year strategy for the Royal Highland Centre, its dedicated events venue. This strategy focuses on diversifying event offerings, strengthening commercial performance, and driving sustainable growth. Ms Wood’s financial leadership has been key to supporting these ambitions and ensuring commercial activities continue to support RHASS’s charitable objectives.
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Alex Paterson, Chief Executive of RHASS, said: “The past year has marked a significant turning point for RHASS, and Nicky’s expertise, leadership and commitment to supporting colleagues have been invaluable in helping to deliver the organisation’s financial turnaround. Her role in building a stronger financial culture across the Group has been an important part of that progress. While much of her work happens behind the scenes, its impact is felt across everything we do, from delivering the Royal Highland Show and developing the Royal Highland Centre’s year-round events business to supporting Scotland’s agricultural and rural communities. Nicky’s recognition as CFO of the Year is thoroughly deserved and a fantastic achievement.”
Ms Wood received the accolade after being shortlisted alongside Crawford Hunt of Capital Theatres, Jane Smith of Children’s Hospices Across Scotland, and Martin Booth of Enable Scotland. The Scottish CFO Awards celebrate the achievements of Scotland’s leading finance professionals, recognising individuals demonstrating exceptional leadership, strategic thinking, and a commitment to making a positive impact within their organisations.
