VARTA AG: VARTA AG strengthens Management Board
VARTA AG strengthens Management Board
* VARTA AG Management Board to receive additional support from February 1, 2018
* Steffen Munz joins VARTA AG as CFO
Ellwangen, January 26th, 2018. VARTA AG has today announced changes to its Management Board. With effect from February 1, 2018, Steffen Munz will become a new Chief Financial Officer (CFO) at the long-established company. In his capacity as a Board member of VARTA AG, he will be responsible for Accounting, Controlling, Corporate Legal & Compliance and IT.
Dr. Michael Pistauer will continue to be responsible for Investor Relations and Mergers and Acquisitions as a Board member of VARTA AG.
Prior to joining the Group, Munz was CFO at Gardner Denver Medical, the medical division of a leading US manufacturer of pumps and compressors. The business began trading on the New York Stock Exchange in May 2017. While serving as Managing Director for the German subsidiaries, Munz (39) also oversaw classic financial areas, IT and mergers and acquisitions.
Herbert Schein, CEO of VARTA AG: "We are thrilled to welcome such an experienced CFO to the Board. I'm particularly delighted that Mr. Munz is joining the Group at a time of financial prosperity. After record results in the first half of 2017 and following our IPO, we want to give our growth figures another significant boost and benefit from technological progress." Pistauer added that: "The decision to expand the Management Board was made in fall 2017 to better reflect the expansion of the Group." Demand is growing at such a fast pace that production capacity in the Microbatteries division is being substantially increased. The company anticipates this will lead to improved results and safeguard the future of production sites and jobs in the long term. Munz is equally excited about the future: "I am very much looking forward to working for an innovative company that boasts such a rich history."
About VARTA AG As the parent company of the Group, VARTA AG is active in the business segments Microbatteries and Power & Energy through its operating subsidiaries VARTA Microbattery GmbH and VARTA Storage GmbH. Already an innovation leader in the microbattery sector and a market leader for hearing-aid microbatteries, VARTA Microbattery GmbH also aspires to market leadership for lithium-ion batteries. VARTA Storage GmbH focuses on the design, system integration and assembly of stationary lithium-ion energy storage systems for households and commercial applications as well as customized battery storage systems for OEM customers. The Group's operating subsidiaries are currently active in more than 75 countries around the world, with four production and assembly facilities in Europe and Asia as well as distribution centers in Asia, Europe and the United States.
26.01.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: VARTA AG Daimlerstraße 1 73479 Ellwangen
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