Standing Wood down is the right decision. Forcing him to sell his shareholding and going over anything else he owns with a fine-toothed comb for other undeclared conflicts of interest also seems justified. Because if he's hidden one thing, the presumption should be that he's also hiding other things, and he should not re-enter public life until he's proved himself clean.
This mess also once again shows the ongoing problem of trusts in undermining public confidence in politicians. Normal people don't have trusts. They're used exclusively by rich people to dodge taxes, criminals to launder money, and politicians to hide their interests and enable corruption. Our political institutions simply should not tolerate them. We should bust the trusts, end secrecy, and force full disclosure so we can all see whether our politicians are clean. As for us voters, we can and should judge the honesty of politicians with trusts at the ballot box.