May 19, 2021—Valvoline announced some business changes that will take place in the third quarter of 2021.
A press release says that it will manage operations through two segments. One is retail services, which includes the quick lube segment. The other is global products, which includes sales lubricants, coolants, and other products.
"Our business realignment strengthens our strategy and is the next step in our transformation to a more service-driven business model," CEO Sam Mitchell said in the release. "Our ongoing growth opportunities in retail services are supported by vertical product integration and strong cash generation from the global products segment.