Varta AG (VARTY)

0.9072 0.0000 (0.00%) At close: 09:51AM 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: 4,049

Key executives

Name	Title	Pay	Exercised	Year born
Dr. Michael Tojner	Owner & Chairman of Supervisory Board	147.23k	N/A	1966
Dr. Markus Hackstein	Spokesperson for the Executive Board & CEO	413.95k	N/A	1975
Mr. Rainer Hald	CTO & Member of Management Board	531.31k	N/A	1969
Mr. Marc Hundsdorf	CFO & Member of Management Board	N/A	N/A	1968
Mr. Michael Giesswein	Member of Management Board & Chief Restructuring Officer	N/A	N/A	1980

Amounts are as of 31 December 2022, 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, engages in the research, development, production, and sale of micro and household batteries, large-format batteries, battery solutions, and energy storage systems in Europe, Asia, North America, and internationally. It operates in five segments: Micro Batteries, Lithium-Ion CoinPower, Consumer Batteries, Energy Storage Systems, and Other. The Micro Batteries segments offers zinc-air batteries under the power one and ecopack brand names for use in microbatteries and hearing aid devices. The Lithium-Ion CoinPower segment provides lithium-ion battery solutions for wireless headphones for medical devices to measure hypertension, blood sugar, and other bodily functions, as well as the power supply for COVID19 antibody tests. The Consumer Batteries segment offers household batteries, rechargeable batteries, power banks, chargers, and lights. The Energy Storage Systems segment provides energy storage solutions for the home and mass storage markets. The Other segment offers lithium-ion large cells product for rechargeable battery solutions for industrial and original equipment manufacturers for applications, such as servers, applications in alarm systems, or smart meters; and produces rechargeable, standardized, and customized battery packs for industrial and wireless applications. 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 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 April 2024 is 8. The pillar scores are Audit: 5; Board: 6; Shareholder rights: 1; Compensation: 8.

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.