Jaakko Eskola, former President and CEO of Wärtsilä, has been appointed Chair of the Board (COB) at Finnish shipyard Meyer Turku.
“We have always sought external expertise and were able to convince Jaakko Eskola, an outstanding industry expert, to join us,” said Meyer Turku CEO Tim Meyer. While Eskola is not a shipbuilder, he is well-acquainted with the maritime industry “and he knows it from a different perspective,” Meyer added. “That can be very beneficial for us.” Additionally, Eskola has strong local connections within Finland’s shipbuilding sector.
As COB, Eskola will lead the supervisory and management board of the Finnish shipyard. Since the German federal government and the state of Lower Saxony acquired stakes in Meyer Werft in Papenburg, Meyer Turku remains the only shipyard fully owned by the Meyer family. “He will be responsible for Meyer Turku’s strategy and will develop it together with the management team,” said Meyer. He also noted that the board in Finland plays a more significant role than its counterpart in Germany.
Eskola wants to develop the shipyard further
According to a press statement, Jaakko Eskola looks forward to “developing the Turku shipyard further at a time when the market is growing, and demand for sustainable shipbuilding is rising.”
Meyer Turku has just completed its turnaround, according to Tim Meyer. “We are back in the black,” the CEO reported, adding that detailed financial figures will be presented in the spring. Several steps have been taken to return to profitability, Meyer said.
The Papenburg-based Meyer family has been engaged in Finland for more than a decade. For Bernard Meyer, who orchestrated the acquisition of the former STX Europe shipyard, appointing Jaakko Eskola as Chair of the Board is a strong signal of commitment to the Turku shipyard and Finland’s maritime cluster.
Currently, Meyer Turku is constructing the “Star of the Seas,” the second cruise ship in Royal Caribbean International’s Icon-class series. It is set to become the world’s largest cruise ship and is scheduled for delivery later this year. In the coming years, the shipyard will build two additional Icon-class ships, with deliveries planned for 2026 and 2027. Furthermore, the yard holds options for two additional units of this series.
Additionally, in the second half of this year and next year, Meyer Turku will deliver one patrol vessel per year to the Finnish Border Guard.
