The President and CEO of Wärtsilä Corporation, Ole Johansson, is retiring after turning 60, exercising a stipulation 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. The board has started the process to appoint a successor to Johansson.

Johansson has worked in various managerial positions in Wärtsilä since 1975, and as president and CEO since 2000.