Wärtsilä Corporation, Stock exchange release, 1 October 2018 at 9.30 a.m. EEST
The technology group Wärtsilä has decided to reorganise into two business areas, Wärtsilä Marine Business and Wärtsilä Energy Business, covering both new sales and services for the respective markets. With this change, Wärtsilä aims to deliver increased value to its customers by better serving their needs across the full lifecycle. The new organisational structure will be operational as of 1 January 2019.
Forming two business areas will enable Wärtsilä to accelerate growth and the implementation of the Smart Marine and Smart Energy strategies. Integrating the newbuild and service activities enhances customer value by strengthening the focus on complete lifecycle solutions tailored to specific market needs. It also allows Wärtsilä to more effectively serve its customers with increased flexibility and faster response times.
“Developing stronger partnerships with our customers and providing them with greater value is essential for reaching our long-term target of profitable growth. I am confident that this change will ensure more rapid development of innovative solutions and services and a superior customer experience; thereby further strengthening our position as a global leader in lifecycle solutions for the marine and energy markets,” comments Jaakko Eskola, President & CEO.
Roger Holm, currently President of Marine Solutions, will lead Wärtsilä Marine Business and Wärtsilä Energy Business will be headed by President of Energy Solutions Marco Wirén. Pierpaolo Barbone, President of Services, EVP and Deputy to the CEO, will pursue opportunities outside Wärtsilä at the end of the year.
Wärtsilä Marine Business will have approximately 13,100 employees and Wärtsilä Energy Business 5,500 employees. Restated net sales for the 12 months ended 30 June 2018 amounted to EUR 2.7 billion in Wärtsilä Marine Business and EUR 2.2 billion in Wärtsilä Energy Business. Wärtsilä will report according to the new organisational structure as of the first quarter of 2019. Adjusted comparison figures will be provided prior to the publication of the interim report for January-March 2019.