Lori Flees on electric vehicles
From Meeting 12-05-2024 - Keynote: Lori Flees - CEO Valvoline · · Rotary Club of Lexington KY
“The electrification of the car park is progressing slowly; currently about 1% of all vehicles driven are battery electric vehicles, and Valvoline is preparing to serve customers regardless of vehicle technology.”
On , Lori Flees, Chief Executive Officer, President & Director at VALVOLINE INC, spoke about electric vehicles during Meeting 12-05-2024 - Keynote: Lori Flees - CEO Valvoline on Rotary Club of Lexington KY.
About Lori Flees
Lori Flees, CEO of Valvoline, spoke at a Rotary Club of Lexington meeting on December 5, 2024, describing Valvoline as a "50-year-old new company" following its 2023 separation from its product division, which was sold to Saudi Aramco. She stated that the company now focuses solely on retail services, operates approximately 2,010 stores, and has achieved 18 consecutive years of same-store sales growth. Flees outlined three strategic priorities: driving the core business, accelerating network growth, and preparing for future customer preferences, noting that Valvoline's stores are within a 10-minute drive of 30 to 35 percent of the population and that the company holds only a 5 percent market share of all oil changes in its markets. Flees discussed Valvoline's adaptation to industry changes, including a pilot program for electric vehicles in Mountain View, California, and a requirement in Connecticut to provide recall information to customers. She mentioned a target to grow the store network to 3,500 locations. Flees also highlighted the company's fundraising of $1.3 million for Children's Miracle Network charities and its focus on mental health support for employees, citing data that men in automotive service roles experience suicide at twice the rate of the average working American man.