VARTA AG expands Executive Board and extends Contract of Chief Financial Officer Armin Hessenberger

With the extension of Armin Hessenberger's contract, the technology group is focusing on continuity. Markus Hackstein becomes the new board member for the system integration of batteries in the field of e-mobility and energy storage.

VARTA AG sets the course for the future. CFO Armin Hessenberger’s contract as member of the Executive Board, which expires at the end of September this year, will be extended by two more years until 2024.

Markus Hackstein will become a new member of the Executive Board from 1st August 2022. He will have overall responsibility for the V4Drive (E-Mobility), Energy Storage Systems and Power Pack Solutions divisions, making him the fourth member of the Board alongside Armin Hessenberger (CFO), Rainer Hald (CTO) and the Chairman of the Board, Herbert Schein (CEO).

Michael Tojner, Chairman of the Supervisory Board of VARTA AG: "The expansion of the Executive Board with Markus Hackstein enables a clear management focus on the rapidly growing business segments Energy Storage Systems - i.e. energy storage for private households and industrial applications - as well as V4Drive, our ultra-high-performance lithium-ion solutions for electromobility. In order to be able to make full use of the high growth potential in the field of electromobility for VARTA, we are intensively examining cooperation options and conducting exploratory talks with potential partners. Our goal is a strong expansion of this segment.”

Regarding the extension of the CFO's contract, Tojner says: "With the extension of our CFO Armin Hessenberger, the Supervisory Board is taking account of the excellent performance of the CFO. The extension by a further two years is a sign that VARTA AG is focusing on continuity in the implementation of the planned future projects.”

Herbert Schein: “The lithium-ion business is the biggest growth driver for us. In addition to electromobility, growth markets in the future will be in particular the energy storage market. We want to expand our position even more intensively in both areas. Especially in the field of energy storage, we can play a leading role with our new, innovative high-voltage storage systems. Thanks to his expertise in the field of system integration, Markus Hackstein is the ideal person to cover these future fields at Board level.”

Markus Hackstein has been successfully working in various management positions for the VARTA Group since 2018. Among other things, he was responsible for the successful establishment of the production site in Braşov, Romania, as well as the Solutions and V4Drive division.

Armin Hessenberger has been on the Executive Board of VARTA AG since 2020 and brings with him experience from numerous management positions, especially in controlling. He successfully leads the financial agendas and has played a key role in the Group's growth course since his appointment in 2020.

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VARTA AG produces and markets a comprehensive battery portfolio ranging from micro batteries, household batteries, energy storage systems to customised battery solutions for a variety of applications and sets the industry standards as a technology leader in key areas. As the parent company of the Group, it is divided into the segments "Micro Batteries", "Lithium-Ion CoinPower", "Consumer Batteries", "Energy Storage Systems" and "Other".
The "Micro Batteries" segment includes micro and hearing aid batteries, "Lithium-Ion CoinPower" small-format lithium-ion round cells for OEM applications. "Consumer Batteries" represents the business with household batteries, rechargeable batteries, chargers, portable power (power banks) and lights. “Energy Storage Systems" includes energy storage solutions for primarily private, but also for commercial applications. The "Other" segment includes the "Lithium-Ion Battery Packs" and "Lithium-Ion Large Cells" business units (high-performance lithium-ion round cells for industrial applications in the automotive and non-automotive sectors).
Through intensive research and development, VARTA sets global standards in many areas of lithium-ion technology and in micro batteries, making it a recognised innovation leader in the important growth markets of lithium-ion technology and in primary hearing aid batteries. The VARTA AG Group currently employs around 4,200 people. With five production and manufacturing facilities in Europe and Asia as well as distribution centres in Asia, Europe and the USA, VARTA AG's operating subsidiaries are currently active in over 100 countries worldwide.