Wärtsilä's President, CEO Johansson to Retire

The President and CEO of Wärtsilä Corporation, Ole Johansson, has decided to retire after turning 60 years of age in June, using the right stipulated in his executive contract. The exact timing of his retirement will be announced later. Also, Johansson will not be available to continue in his position as a member of the Wärtsilä Board of Directors. Wärtsilä's Board of Directors has started the process to appoint a successor for Johansson. Ole Johansson has worked in various managerial positions in Wärtsilä since 1975, and as the President and CEO since 2000.