[3] He stepped down as CEO after the company was sold to J.P. Morgan Partners, however he kept a seat on the Hanley Wood board.

Shortly after being sworn, he announced that his top priority was cooperation between the U.S. and Sweden in alternative energy technology.

During his three years in Sweden he traveled to all 21 län (counties) looking for alternative energy companies that could benefit from cooperation with American venture capital and research institutions.

On February 6, 2009, in a ceremony at the House of Sweden in Washington, Wood was presented the William Wachtmeister Award for advancing Swedish-American relations.

On October 22, 2008, Swedish Deputy Prime Minister Maud Olofsson presented Wood the ESBRI Award for the person who has done the most for entrepreneurship in Sweden.