Mikael Lilius, Chairman of the Board of Directors of Wärtsilä Corporation, was recognized as the 2017 Chair of the Year at an event held by the Finnish Foundation for Share Promotion.
According to the jury Lilius has a successful history in boards of Nordic companies. In addition to his work in business, he has also been an important background influencer in the academic world.
Mikael Lilius has led the board of Wärtsilä since 2011. The total shareholder return of the technology group Wärtsilä has almost doubled during his term.
”Mikael Lilius has faced challenging situations as a chair. With his leadership boards have recruited CEOs and made decisions about mergers and acquisitions. The results are convincing,” describes the head of the jury Sari Lounasmeri from the Finnish Foundation for Share Promotion.
Chair of the year is a Nordic award given annually to the best chair of the board of a listed company in each country. The Nordic winner is then later selected from among these national winners and awarded later in the spring.
Lilius emphasizes that board members carry significant responsibility and face an increasing workload. “The chair decides what gets put on the agenda for the board and what is left out,” explains the chair of the year 2017 Mikael Lilius. “The chair has always more information than the rest of the board members. International boards may find it difficult to find time together on short notice. When it comes to selecting a new CEO, for example, the chair must take an active role.”
The Finnish jury of the 2017 Chair of the Year comprised Sari Lounasmeri (Chair), CEO of the Finnish Foundation for Share Promotion; Jorma Eloranta, 2016 Chair of the Year and Chair of the Board of Directors of Neste; Jannica Fagerholm, Managing Director of Signe and Ane Gyllenberg Foundation; Eero Heliövaara, Director General of the Government Ownership Steering Department; and Timo Ritakallio, President and CEO of Ilmarinen. Partners of the Chair of the Year are Alumni Harvey Nash, KPMG and Merilampi Attorneys.
The Finnish Foundation for Share Promotion announcement
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Wärtsilä in brief
Wärtsilä is a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation and total efficiency, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2016, Wärtsilä's net sales totalled EUR 4.8 billion with approximately 18,000 employees. The company has operations in over 200 locations in more than 70 countries around the world. Wärtsilä is listed on Nasdaq Helsinki.