At the end of the reporting period, Wärtsilä’s Board of Management comprised eight members: the President & CEO, the Chief Financial Officer, the Executive Vice Presidents of the businesses Wärtsilä Energy, Wärtsilä Marine, and Portfolio Business, as well as the Executive Vice Presidents heading the Marketing and Communications; Corporate Relations & Legal Affairs; and Human Resources functions. The members of the Board of Management are appointed by the company’s Board of Directors, which also approves their remuneration and other terms of employment. The Board of Management is chaired by the President & CEO. It considers strategic issues related to the Group and its businesses, as well as investments, product policy, and the Group’s structure and corporate steering systems. It also supervises the company’s operations.
The Chief Financial Officer’s main areas of responsibility include group accounting and control, treasury (including project and customer financing), taxation, process development, corporate planning, and investor relations. The Executive Vice Presidents of the businesses are each responsible for the sales volumes and profitability of their respective global business, deploying the capabilities of the Group’s worldwide subsidiaries. The main areas of responsibility of the Executive Vice President, Corporate Relations & Legal Affairs are corporate relations and legal affairs, intellectual asset management and sustainability, environmental and occupational health and safety, as well as security, including cyber security. The Executive Vice President, Human Resources is responsible for people related processes. The main areas of responsibility of the Executive Vice President, Marketing and Communications are external and internal communications, as well as branding and marketing. Information on the members of the Board of Management and their areas of responsibility and holdings can be found in the Board of Management CVs.
The Board of Management in 2024
The Board of Management met 12 times for monthly meetings during 2024. In addition, numerous topic specific meetings were held. Major items on the agenda of the Board of Management were business strategies and the status of their implementation, as well as the sustainability strategy, decarbonisation, and the continuous improvement process. Focus was strongly on serving the customers in the best possible way, and further developing Wärtsilä’s position in the market. The Board of Management had financial performance, development of Wärtsilä business and organisation, the regulatory environment, R&D and other technology developments commonly on its agenda. Managing the consequences of increasing geopolitical impacts was a strong focus point. Furthermore, other areas of importance included human resources management, the health and safety of personnel, risk management, as well as supplier and other stakeholder relationships.
Information on the members of the Board of Management
Managers’ transactions