The company's Board of Management comprises nine members: the President & CEO, the Chief Financial Officer, the Executive Vice Presidents heading the Energy Solutions, Marine Solutions and Services businesses, the Chief Digital Officer and the Executive Vice Presidents heading the Communications & Branding, the Corporate Relations & Legal Affairs, and the Human Resources functions. The Board of Management members are appointed by the company's Board of Directors, which also approves their remuneration and other terms of their 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, the Group's structure and corporate steering systems, and it supervises the company's operations.
The Chief Financial Officer's main areas of responsibility include group control, treasury (including project and customer financing), taxation and process development, and corporate planning. The Executive Vice Presidents heading the businesses are each responsible for the sales volumes and profitability of their respective global businesses, employing the services of the Group's worldwide subsidiaries. The Chief Digital Officer leads the Information Management organisation and is responsible for defining, developing and executing Wärtsilä’s digital strategy, organisational blue print, and related digital governance in close collaboration with the CEO and the Board of Management. The main areas of responsibility of the Executive Vice President, Corporate Relations & Legal are corporate relations and legal affairs, intellectual asset management and sustainability, as well as environmental and occupational health and safety. The Executive Vice President, Human Resources is responsible for people related processes. The main areas of responsibility of the Executive Vice President, Communications & Branding are external and internal communications, as well as branding. 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 2016
In 2016, the Board of Management met 14 times. The main issues addressed by the Board of Management included market development and business strategy, new growth areas, and the profitability of the company, as well as issues relating to developments regarding competitiveness and costs. Digitalisation and operational excellence were also high on the agenda. Carrying out the acquisitions of Eniram and American Hydro, and planning and implementing the integration process was an important area of focus. Another focus area was the further development of Wärtsilä's organisational structure and the implementation of organisational changes. The development of markets, the regulatory operating environment, order intake and production capacity, as well as supplier and other stakeholder relationships, were also important matters addressed by the Board of Management.