Wood replaces founder and former chief executive Gregory Yurek, who announced his retirement earlier this year.
Yurek was replaced as chief executive by former chief operating officer and president Daniel McGahn on 1 June.
The appointment comes at a difficult time for AMSC. The company was recently forced to cut 30% of staff following the refusal of an order by Sinovel its largest customer.
AMSC is still to publish its results for 2010 and was forced to restate its figures for the second and third quarters.