Lind, Mäkinen Appointed at Wärtsilä

Raimo Lind, MSc (Econ.), Group Vice President, CFO, and Mikael Mäkinen, MSc (Eng.), Naval Architect, Group Vice President, Ship Power, have been appointed Executive Vice Presidents of Wärtsilä Corporation with effect from 1 January 2005. Mr Lind will also act as deputy to President and CEO Ole Johansson. Wärtsilä's current Executive Vice President, Sven Bertlin, retires on 31 December 2004.

Raimo Lind, born 1953, holds a Master's degree in Economics and Business Administration. He has been Group Vice President, CFO, of Wärtsilä and a member of the Board of Management since 1998. He was employed by the company between 1976 and 1989, and then rejoined in 1998. He has broad-ranging experience of financial management and international business management. Between 1976 and 1989 the main emphasis of his responsibilities was the development and internationalization of Wärtsilä Diesel. Mr Lind began his career with Wärtsilä in financial administration, continuing as Controller of Colton-Wärtsilä in the USA and then as Controller/CFO of the Wärtsilä Diesel Group. In 1984 he became Managing Director of Wärtsilä Diesel Singapore, where he was also Regional Director for Wärtsilä in Asia. This was followed by the post of Vice President, Service in Wärtsilä Diesel. Between 1990 and 1991 Raimo Lind worked for Spontel, and between 1992 and 1998 for Tamrock in various positions.

Mikael Mäkinen, born 1956, is a naval architect. Since 1999 he has been Group Vice President, Ship Power, and a member of the Board of Management. He has solid international experience in business management, shipbuilding and the marine engine business. Mr Mäkinen joined Wärtsilä in 1981, working first as Project Manager and Design Group Leader at the Helsinki Shipyard and later at the Kockums Shipyard in Malmö, Sweden. In 1987 he moved to Singapore first as Area Director, Wärtsilä Shipbuilding Group, and then as Area Director, Marine, Asia for Wärtsilä Diesel. Between 1992 and 1997 he was Vice President, Marine, Wärtsilä SACM Diesel in Surgères, France, while remaining head of the Marine business in Asia. He then became Managing Director of Wärtsilä NSD Singapore before taking up his current position.