Wartsila has appointed a Volvo Group executive to replace retiring chief executive Jaakko Eskola.
The Finnish shipping technology giant said Hakan Agnevall will take over as the new CEO and president no later than next April.
Eskola will continue as a senior advisor to the board and executive team until he retires on 30 June.
Agnevall is president of Volvo Bus Corp, a position he has held since 2013.
In the decade prior to that, he worked for train and aircraft maker Bombardier and shipping technology group ABB, gaining experience in sales, production, project management, research and development, and life-cycle services.
The executive must now continue to steer Wartsila towards hi-tech solutions for sustainable propulsion and smart and autonomous shipping.
Proven record
"Hakan Agnevall, a highly appreciated leader, has a proven record of developing organisations and businesses with a strong focus on customers, technology, and people," said Wartsila chairman Tom Johnstone.
"His experience within the Volvo Group on pioneering electrification and autonomous vehicles will strengthen our activities in corresponding areas."
Eskola has overseen two group reorganisations in two years.
Earlier in 2020, the company simplified its marine operations by splitting the business into three divisions: Marine Power for propulsion, Marine Systems for gas and scrubber solutions, and Marine Voyage for navigational systems.
Agnevall added: "I am eagerly looking forward to joining Wartsila and its team of highly skilled and committed professionals.
"I believe that Wartsila can make a real difference for its stakeholders and society through innovation, focusing on sustainability and operational performance."
Well-placed to lead transformation
He said: "The technology trends in clean energy, automation, and connectivity offer exciting new business opportunities, and Wartsila is very well placed to be a leading player in the marine and energy markets of the future."
Johnstone thanked outgoing boss Eskola for a "considerable contribution" during 22 years at the group.
Wartsila is becoming an increasingly important player in the marine sector, moving beyond its traditional engine manufacturing business to spearhead development of sustainable fuels, as well as designing software to meet the challenges of smart systems and autonomous vessels.
In 2019, the marine equipment and service businesses were integrated to strengthen the focus on "complete life-cycle solutions", the company said.
