Mr Wray, who only stepped down from the business in late 2016 and oversaw the growth of the firm to a global enterprise, passed away following a short illness.
The Yorkshireman, who leaves behind wife Christine and three daughters, spent his entire 45 year career with Turner & Townsend.
During his tenure as chairman the firm won three Queen’s Awards for Export.
Among the major projects he worked on included the iconic Shard building in London and he also helped expand Turner & Townsend through many key markets in Africa.
He also created the Chairman’s Group, a global initiative which challenges the firm’s staff to provide bold, insightful and practical solutions to real issues in the business.
Vincent Clancy, chief executive at the firm, said in a memo to staff: “Tim was a well-respected industry figure, dedicated to championing the development of our people, at every stage of their career.”
He added: “It was a privilege to know Tim personally and to work alongside him for 20 years.
“He was a visionary and a strong leader – astute, generous and charismatic.
“He will be greatly missed by all in the Turner & Townsend family.”
Born in Ripon in 1948, he was educated at Ripon Grammar School before going on to attend the University of North London.
Mr Wray joined Turner & Townsend in 1971 at its Darlington office before moving to its Leeds headquarters.
He was eventually tasked with setting up an office in South Africa and spent 18 years in Johannesburg.
At the time of his retirement the company, based in the suburb of Horsforth, boasted a turnover in excess of £400m and employed just under 4,300 consultants.
Jeremy Lathom-Sharp, Finance Director with the firm, called Mr Wray a “father figure for the business” and described him as “the definition of a family man who was dedicated to his wife, daughters and grandchildren”.