VARTA AG changes its Executive Board and plans to bundle e-mobility and battery pack activities in an independent company – V4Drive.

The CEO of VARTA AG, Herbert Schein, is devoting himself to new tasks: In future, he will drive the business for the attractive markets of the e-mobility and battery pack business in a separate VARTA company and will therefore leave the VARTA AG Executive Board at the end of the year.

Markus Hackstein will with immediate effect become the spokesman of the Executive Board, which will consist of three people in future.

VARTA AG is taking a decisive step towards the future: The company intends to address the fast-growing market of large-format lithium-ion cells for e-mobility and other applications in an even more targeted manner by bundling them in V4Drive SE.

Herbert Schein will set up this business, which comprises the development and production of cells for a wide range of attractive and high-growth applications, in new structures on a global scale.

Michael Tojner, Chairman of the Supervisory Board of VARTA AG:

Herbert Schein is an internationally renowned technology expert and has proven many times in his almost three decades at VARTA that he can open up new business areas and develop them to the point of market leadership.

“He has many years of experience as a top manager in many positions at national and international level and has a reputation as an expert of the battery market and industry. All this makes him the ideal person for a company that will have a decisive impact on the future of lithium-ion technology in many areas.”

In order to be able to take on the new positions and to make the transition smooth, Schein will now step down as Chairman as a first step, in order to concentrate fully on the new business.

Despite the current difficult market environment, VARTA is well positioned for the future.

“The foundations for further growth have been laid, especially for the future-oriented lithium-ion market. This also applies to VARTA AG’s other units, such as energy storage.”

Markus Hackstein is Spokesman of the Executive Board and is responsible for VARTA AG’s business units. Armin Hessenberger remains CFO, Rainer Hald CTO.

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VARTA AG changes its Executive Board and plans to bundle e-mobility and battery pack activities in an independent company, September 29, 2022

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