VARTA AG Appoints Michael Ostermann as CEO

(IN BRIEF) VARTA AG’s Supervisory Board has named Michael Ostermann as Board Member and Chief Executive Officer (CEO), effective May 6, 2024. With extensive management experience in the automotive and battery industries, Ostermann is poised to lead VARTA AG, alongside Marc Hundsdorf (CFO), Rainer Hald (CTO), and Michael Giesswein (CRO). This appointment marks a strategic move for VARTA AG, aiming to leverage Ostermann’s expertise to navigate forthcoming challenges. Concurrently, Dr. Markus Hackstein will remain on the Executive Board during a transitional phase before resuming projects within the Montana Tech Components Group. The reshuffle reflects VARTA AG’s commitment to strategic leadership amidst industry transitions.

(PRESS RELEASE) ELLWANGEN, 7-May-2024 — /EuropaWire/ — At its meeting , the Supervisory Board of VARTA AG appointed Michael Ostermann as Board Member of VARTA AG. In addition, he will be Chief Executive Officer (CEO) of VARTA AG with effect from 6th May 2024.

Michael Ostermann, 58, has many years of management experience in the automotive and battery industries. Under his leadership at EXIDE Technologies, for example, a successful strategy for lithium-ion batteries and energy storage systems was developed, and he successfully implemented several restructurings in both sectors. Together with Marc Hundsdorf (CFO), Rainer Hald (CTO) and Michael Giesswein (CRO), he will form the Executive Board of VARTA AG. Dr Markus Hackstein will remain a member of the Executive Board for a transitional period.

Dr Michael Tojner, Chairman of the Supervisory Board of VARTA AG: “We are delighted to have found an experienced candidate for the position of CEO of VARTA AG in Michael Ostermann. He brings with him experience and knowledge that will provide important impetus in meeting the challenges that lie ahead for the company. Mr. Ostermann has been involved with VARTA AG for many months. Markus Hackstein moved from Montana Tech to VARTA in 2019, where he is now returning. In an already difficult market environment, he initiated the first phase of restructuring with the entire Management Board from 2022 and consistently implemented the planned measures. Together with the entire Board of Directors and the employees, he also successfully led the company through the difficult days of the cyber attack, which briefly paralyzed production in mid-February 2024. We would like to thank him for this. Montana Tech looks forward to his return”.

Michael Ostermann: “I am very much looking forward to my new role at VARTA AG. I chose this position because I believe in the company’s opportunities. I see the challenges. But most of all I see the potential. Together with the entire Executive Board and the VARTA team, we will meet the challenges and realize the potential.

Markus Hackstein will remain a member of the Executive Board for a transitionary period before returning to projects within the Montana Tech Components Group. Hackstein was appointed to the Executive Board of VARTA AG in August 2022 and took over the responsibilities of former CEO Herbert Schein as Spokesman of the Executive Board in October 2022. Hackstein: “I am grateful for the performance of the entire VARTA workforce, for their commitment and loyalty to the company over the past challenging months. I am convinced that VARTA will have a successful future once the restructuring has been completed. I wish the entire team and the Management Board every success for the future.”

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.

Media Contact:

Dr. Christian Kucznierz
Head of Corporate Communications
VARTA-Platz 1
73479 Ellwangen
Phone: +49 (7961) 921 – 2727
E-Mail: christian.kucznierz@varta-ag.com

SOURCE: VARTA AG