Quick look: Governance
Wärtsilä's approach to governance
Wärtsilä implements a single-tied governance model, in which the management of the Wärtsilä Group is the responsibility of the General Meeting of shareholders, the Board of Directors, and the President and CEO. Wärtsilä complies with all the relevant Finnish guidelines and provisions.
"For Wärtsilä, good corporate governance ensures that we cultivate sound business practices and internal policies, processes, and procedures that support us in achieving our performance objectives.”
Executive Vice President, Corporate Relations and Legal Affairs
Diversity enhances performance at all levels of the company and is part of good corporate governance in Wärtsilä. A highly qualified and sufficiently diverse Board of Directors enables its duties to be discharged in the most effective manner.
Sustainability on Board of Directors’ agenda
Wärtsilä is strongly committed to sustainability. The Board of Directors reviews major sustainability issues on an annual basis. In addition, the Board of Management identifies major critical concerns and when necessary communicates such concerns to the Board of Directors.
The purpose of risk management is to ensure that Wärtsilä is able to effectively execute its strategy and reach its targets, in the short term as well as over the long run.
Changes in the management team
Several changes in the management team took place in 2015. Jaakko Eskola was appointed President & CEO as of November 2015. Roger Holm succeeded him as President of Marine Solutions and Javier Cavada was appointed head of Energy Solutions upon the retirement of his predecessor.