Varta AG (VARTY)

2.9525 0.0000 (0.00%) At close: 10:46AM EDT

Varta AG

VARTA-Platz 1
Ellwangen 73479
Germany
49 7961 921 0
https://www.varta-ag.com

Sector(s): Industrials
Industry: Electrical Equipment & Parts
Full-time employees: 4,712

Key executives

Name	Title	Pay	Exercised	Year born
Dr. Michael Tojner	Owner & Chairman of Supervisory Board	127.41k	N/A	1966
Mr. Herbert Schein	Chairman of Management Board & CEO	N/A	N/A	1965
Mr. Armin Hessenberger	CFO & Member Of Management Board	N/A	N/A	1966
Mr. Rainer Hald	CTO & Member of Management Board	N/A	N/A	1969
Mr. Markus Hackstein	Member of Exec. Board	N/A	N/A	N/A
Mr. Bernhard Wolf	Head of Investor Relations	N/A	N/A	N/A

Amounts are as of 31 December 2020, and compensation values are for the last fiscal year ending on that date. Pay includes salary, bonuses, etc. Exercised is the value of options exercised during the fiscal year. Currency in USD.

Description

Varta AG, through its subsidiaries, researches, develops, produces, and sells microbatteries, household batteries, and energy storage solutions worldwide. It operates in two segments, Lithium-Ion Solutions & Microbatteries and Household Batteries. The Lithium-Ion Solutions & Microbatteries segment offers zinc-air batteries primarily for use in hearing aid devices; lithium-ion battery solutions for wireless headphones; wearables, which include medical devices to measure hypertension, blood sugar, and other bodily functions, as well as the power supply for COVID19 antibody tests; and rechargeable battery solutions for industrial and original equipment manufacturers for use in various applications, such as servers, car keys, alarm systems, or smart meters. This segment is also involved in the development, system integration, and assembly of lithium-ion battery packs for portable industrial, communication devices, electric power tool, home, garden, and medical applications. The Household Batteries segment offers household batteries, rechargeable batteries, chargers, power banks, lights, and energy storage systems. The company was founded in 1887 and is headquartered in Ellwangen, Germany. Varta AG is a subsidiary of Montana Tech Components AG.

Corporate governance

Varta AG’s ISS governance QualityScore as of 1 October 2022 is 6. The pillar scores are Audit: 10; Board: 6; Shareholder rights: 1; Compensation: 5.

Corporate governance scores courtesy of Institutional Shareholder Services (ISS). Scores indicate decile rank relative to index or region. A decile score of 1 indicates lower governance risk, while 10 indicates higher governance risk.