VARTA AG Makes new Appointments to Management Positions

Thomas Obendrauf is a new member of the Executive Board of the Ellwangen-based technology company and will assume the position of Chief Financial Officer (CFO) as of 1st May.

VARTA AG is expanding its Executive Board. Thomas Obendrauf has been appointed by the Supervisory Board as a further member of the board, which thus briefly increases to four people. On 1st May, he will replace Armin Hessenberger as Chief Financial Officer (CFO), who wishes to pursue a new career. In addition to Obendrauf, the board will then consist of Rainer Hald (CTO) and Dr. Markus Hackstein as Speaker. Obendrauf is 52 years old and has more than 15 years of board experience, among others as CFO at the listed fibre producer Lenzing AG and the printed circuit board manufacturer AT&S AG.

Dr. Markus Hackstein, Speaker of the Executive Board of VARTA AG: "With Thomas Obendrauf, we are gaining an experienced and renowned financial manager who has worked for many years as CFO at listed industrial companies. His expertise, particularly in the areas of efficiency enhancement and cost reduction, makes him the ideal successor to Armin Hessenberger, to continue his successful course in the realignment of our business divisions and in the cost saving and efficiency enhancement programmes that have been started."
Michael Tojner, Chairman of the Supervisory Board of VARTA AG: "As Chief Financial Officer, Armin Hessenberger has played a key role in VARTA's strong growth in the field of lithium-ion cells and the strengthening of our market position in the energy storage sector in recent years. In the current challenging market environment due to the consequences of the war against Ukraine, he set the course for the future of our company. I thank him for the successful cooperation and wish him every success in his future career."

Armin Hessenberger had joined VARTA in October 2020 and was CFO from January 2021. He will support the Executive Board as an advisor after his departure until the end of the year.

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About VARTA AG

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.