Valvoline Inc. Announces Retirement of Chief Financial Officer and Transition Plan
Lexington, Kentucky, October 18, 2024 – Valvoline Inc. (VVV), a trusted leader in quick and easy automotive preventive maintenance, has announced the planned retirement of its Chief Financial Officer, Mary Meixelsperger.
Meixelsperger will continue in her role as CFO until a successor is appointed and will remain with the company through the subsequent transition period. Valvoline has initiated a comprehensive search process, with the assistance of a leading executive search firm, to identify a suitable replacement for this critical position. The search will include both internal and external candidates.
Lori Flees, Chief Executive Officer and President of Valvoline Inc., expressed gratitude for Meixelsperger’s contributions: “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.” Flees also highlighted Meixelsperger’s significant impact: “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, shortly before the successful initial public offering and spinoff from Ashland Global Holdings. Reflecting on her time with Valvoline, Meixelsperger said, “It has been an honor and a privilege to be part of the Valvoline team. 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 joining Valvoline, Meixelsperger held the CFO position at DSW Inc. (now Designer Brands, Inc.) and the former mass merchandise store chain Shopko Stores. She currently serves on the board of directors of specialty retailer Genesco Inc. In 2024, she was appointed as a director for the Cincinnati branch board of The Federal Reserve Bank of Cleveland. Meixelsperger was recognized as a Top 50 Women Leaders of Kentucky for 2023 and is actively involved in supporting the community.
About Valvoline Inc.
Valvoline Inc. (VVV) is the quick, easy, and trusted leader in automotive preventive maintenance. The company focuses on maximizing the potential of its core business, accelerating network growth, and innovating to meet the needs of its customers and the evolving car parc. With approximately 2,000 service centers across North America, Valvoline Inc. and its franchise partners provide exceptional service, earning a 4.6 out of 5 star rating, including 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, generating $1.4 billion in revenue from $2.8 billion in system-wide store sales, marking 17 consecutive years of system-wide same-store sales growth. Valvoline Inc.’s commitment to its people, including more than 10,000 team members and strong, long-standing franchise partners, is evident in its eleven-time win of the BEST Award for training excellence and its top-rated franchisor ranking in its category by Entrepreneur and Franchise Times.
To learn more or find a Valvoline service center near you, visit vioc.com.