LEXINGTON, Ky., June 26,
2024 /PRNewswire/ -- Valvoline Inc. (NYSE: VVV),
the quick, easy, trusted leader in preventive automotive
maintenance, today announced the release of its Corporate Social
Responsibility report, highlighting its fiscal year 2023 people,
safety, environmental, and innovation initiatives.
"This report marks an important milestone for our company as it
is our first CSR report issued as a pure-play, high-growth retailer
following the sale of Valvoline Global Products," said Valvoline
Inc. President and CEO Lori Flees.
"We look forward to further advancing our corporate, social and
environmental efforts as we continue to grow as a retail-focused
company."
Highlights of the report include:
- Valvoline Inc. continues to diversify its talent pools and
pipelines, with women representing 48% of management (as defined as
director level and above*). In 2023**, four out of seven (57%)
executive officers at Valvoline were women, including its President
and CEO, Chief Financial Officer, Chief Legal Officer, and Chief
Accounting Officer.
- The company raised over $1.2
million across the United
States and Canada for the
Children's Miracle Network Hospitals, once again placing the
company in Children's Miracle Network's Million Miracle Club.
- Company-owned service centers recycled nearly every product
used in core service offerings, allowing the company to divert
nearly 500 tons of standard trash from landfills in 2023 and to
increase recycled waste oil by 39% over 2022.
Click here to read Valvoline Inc.'s complete Corporate Social
Responsibility report, which covers the company's 2023 fiscal year
(October 1, 2022 through September 30, 2023) and is written in accordance
with Global Reporting Initiative (GRI) Standards and including
Sustainability Accounting Standards Board (SASB) for Multiline and
Specialty Retailers & Distributors.
About Valvoline Inc.
Valvoline Inc. (NYSE: VVV)
is the quick, easy, trusted leader in automotive preventive
maintenance. Valvoline Inc. is creating shareholder value by
driving the full potential in our core business, accelerating
network growth and innovating to meet the needs of customers and
the evolving car parc. With more than 1,900 service centers
throughout North America,
Valvoline Inc. and our franchise partners keep customers moving
with our 4.6 out of 5 star*** rated service that includes 15-minute
stay-in-your-car oil changes; battery, bulb and wiper replacements;
tire rotations; and other manufacturer recommended maintenance
services. In fiscal year 2023, Valvoline's network delivered
approximately 27 million services to generate $1.4 billion in revenue from $2.8 billion in system-wide store sales, marking
17 years of consecutive system-wide same-store sales growth. At
Valvoline Inc., it all starts with our people, including our more
than 10,000 team members and strong, long-standing franchise
partners. We are proud to be a 10-time winner of the BEST Award for
training excellence and a top-rated franchisor in our category by
Entrepreneur and Franchise Times. To learn more, or to find a
service center near you, visit vioc.com.
* Workforce demographics are representative of U.S. employees
only
** As of October 2023
*** Based on a survey of more than 900,000 Valvoline Instant Oil
Change℠ customers annually
™ Trademark, Valvoline Inc., or its subsidiaries, registered in
various countries
SM Service mark, Valvoline Inc., or its
subsidiaries, registered in various countries
For Further Information
Investor Inquiries
Elizabeth
B. Russell
+1 (859) 357-3155
IR@valvoline.com
Media Inquiries
Angela
Davied
+1 (913) 302-0032
angela.davied@valvoline.com
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SOURCE Valvoline Inc.