Wärtsilä Corporation has announced that Jaakko Eskola will become the company’s new president and CEO effective November 1, replacing Björn Rosengren who is leaving the group to take up the role of CEO at Swedish engineering group Sandvik.
Eskola steps up from his role of deputy CEO, while also currently the president of Wärtsilä Marine Solutions, based in China. The 57-year-old joined Wärtsilä in 1998 and has headed up the Marine Solutions division since 2006.
Mikael Lilius, chairman of Wärtsilä’s board of directors, commented: “Jaakko Eskola has an outstanding track record from his 17-year long career in Wärtsilä. The Board is confident that his global experience, deep understanding of the market dynamics, open management style and commitment to the Wärtsilä culture will lead us to continued success.”
Eskola’s experience while based in China will see him well equipped for the role. China accounted for 11% of Wartsila’s total sales last year, and the company has four joint ventures and six licensees to build two stroke engines in the People’s Republic. A China-based source at the company described Eskola as an industry “legend” and said staff are “looking forward to working under his leadership.”
Wärtsilä said it has started the process to appoint a successor for Eskola as head of the Marine Solutions business.