LEXINGTON, Ky., Oct. 18,
2024 /PRNewswire/ -- Valvoline Inc. (NYSE: VVV),
the quick, easy, trusted leader in preventive automotive
maintenance announces the planned retirement of its Chief Financial
Officer Mary Meixelsperger.
Meixelsperger will continue as CFO until a successor is hired and
will remain with the Company through the subsequent transition
period. The Company has initiated a comprehensive search with the
assistance of a leading executive search firm to identify a
successor for this position, which will include both internal and
external candidates.
"On behalf of the Board of Directors and our executive
leadership team, I want to thank Mary for her leadership and
contributions that helped build the company we are today. We
appreciate that she will continue to serve as our Chief Financial
Officer and provide support during the transition process with her
successor once selected," said Lori
Flees, Valvoline Inc. Chief Executive Officer and President.
"I deeply value Mary's partnership, financial leadership and
strategic insights as we continue to drive value for all of our
stakeholders."
Meixelsperger joined Valvoline in 2016 as CFO just prior to the
successful initial public offering and spinoff from Ashland Global
Holdings.
"It has been an honor and a privilege to be part of the
Valvoline team," said Meixelsperger. "I am sincerely grateful for
the opportunity to work with such amazing teammates and
franchisees. Valvoline is very well positioned to see meaningful
growth and success in its business, guided by a clear strategy and
outstanding leadership. I am committed to ensuring a smooth and
successful transition of our finance leadership."
Prior to the joining the Company, Meixelsperger served as the
CFO for DSW Inc. (now Designer Brands, Inc.) and former mass
merchandise store chain Shopko Stores. She serves on the board of
directors of specialty retailer Genesco Inc. and in 2024, she was
appointed as a director for the Cincinnati branch board of The Federal Reserve
Bank of Cleveland. Meixelsperger
was named a Top 50 Women Leaders of Kentucky for 2023 and is an avid supporter of
the community.
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 approximately 2,000 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 an eleven-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.
* 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. Clevinger
+1 (859) 357-3155
IR@valvoline.com
Media Inquiries
Angela
Davied
+1 (877) 508-0832
media@valvoline.com
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SOURCE Valvoline Inc.