Wärtsilä Corp will reorganise its marine business in Q2 2020 into three independent businesses, with one focusing on developing smarter navigation and training
The Finland-headquartered group will split its maritime operations with one concentrating on marine power, another on onboard engineering and systems, and the third on simulation, vessel traffic and voyage solutions.
Wärtsilä president and chief executive Jaakko Eskola said this reorganisation will enable the group to introduce its smart marine strategy. “Wärtsilä is committed to leading the way towards a more sustainable maritime future,” he said.
“I am confident that establishing three independent marine entities, with a stronger focus on the specific needs of their respective markets, will accelerate the execution of our smart marine strategy,” said Mr Eskola.
He said ship operators, managers and owners will “benefit from increased agility and speed in decision-making” as Wärtsilä produces a more effective frontline for sales and service.
Marine Power will include Wärtsilä’s engine and propulsion solutions. Marine Systems will offer gas solutions, exhaust treatment, marine electrical systems, seals and bearings.
Marine Voyage will provide navigation solutions, simulation and training solutions, fleet operations and ship traffic control solutions.
Outside of marine, Wärtsilä’s Energy Business will continue in its current form.
“Marine markets are evolving at a rapid pace, driven by technology development and the regulatory framework,” said Mr Eskola. “With these changes, we provide our businesses more autonomy to drive their operations and speed up decision-making,” he added.
These structural changes follow Wärtsilä’s changes made in 2019, which integrated equipment and service businesses and strengthened the group’s focus on complete lifecycle solutions.
Wärtsilä’s financial reporting will be adjusted in Q2 2020 to reflect the new organisational structure as of Q2 2020.
As part of these restructurings, Wärtsilä has appointed Roger Holm president of Marine Power as an executive vice president.
Tamara de Gruyter has been appointed president of Marine Systems and an executive vice president, with immediate effect.
Sean Fernback will also become an executive vice president and will be president of Marine Voyage from 4 May 2020, when he joins Wärtsilä from rival bridge systems supplier Navico, where he was most recently chief technology officer. They will also join Wärtsilä’s board of directors.