Valvoline has announced a $500 million offering of senior notes due 2034 as part of a leverage-neutral refinancing transaction aimed at strengthening its debt maturity profile and enhancing liquidity. The company plans to use proceeds from the offering, along with cash on hand, to fully repay its senior secured term loan A facility and partially repay its term loan B facility. Concurrently, Valvoline intends to amend its existing revolving credit facility, increasing availability from $475 million to $600 million whilst reducing pricing and extending maturity by five years. The credit facility amendment is expected to enhance liquidity, reduce borrowing costs, and provide additional financial flexibility. The notes will be offered to qualified institutional buyers and non-US persons. Valvoline operates approximately 2,500 service centres across the United States and Canada.

Valvoline names two new board members. Former Shake Shack CFO Katherine Fogertey and current KFC CEO Scott Mezvinsky joined the board on July 22, 2026. Jeff White is the Managing Editor of Counterman. He joined Babcox after a 20-year career in TV News as a Producer. You can contact him at [email protected] Published: July 24, 2026 Valvoline Inc. announced the election of Katherine Fogertey, former CFO of Shake Shack, and Scott Mezvinsky, CEO of the KFC Division of Yum! Brands, to its board of directors, effective July 22, 2026. The board appointed Fogertey to serve as a member of the board's Audit Committee and Mezvinsky to serve as a member of the board's Governance and Nominating Committee. Fogertey's finance background. Fogertey is a finance executive with more than two decades of experience spanning public company leadership and equity capital markets. She most recently served as chief financial officer of Shake Shack Inc., a global fast-casual restaurant company with nearly 700 company-operated and licensed locations, where she guided the company through operational, strategic, and financial transformation, driving margin expansion, unit growth, and the development of data and analytics capabilities that supported long-term value creation. Previously, she spent nearly 16 years at Goldman Sachs, most recently as vice president in global investment research, where she was the lead equity analyst covering the U.S. restaurant industry. Mezvinsky's KFC Division role at Yum! Brands. Mezvinsky has more than 20 years of experience leading global consumer businesses. He currently serves as the chief executive officer of the KFC division of Yum! Brands, Inc., leading the world's largest chicken restaurant brand, with more than 30,000 restaurants in 150 countries and territories. In that role, he is responsible for KFC's global strategy, brand stewardship, franchise partnerships, operations and long-term growth. Mezvinsky joined Yum! Brands in 2004 and has held senior leadership positions across finance, strategy, development, operations and general management, including serving as president of Taco Bell North America and International. "We are thrilled to welcome Katie and Scott to the Valvoline Inc. Board of Directors," said Richard J. Freeland, chairman of the board. "Katie's deep financial expertise, capital markets and investor insights, and successful track record using data analytics and driving operational excellence aligns seamlessly with our long-term strategic vision. Likewise, Scott's extensive experience leading global consumer brands, scaling both U.S. and international franchise networks, and executing large-scale growth strategies will provide invaluable insight to our Board and guidance to our executive team. Together, their combined expertise brings fresh, vital perspectives to our Board that will be instrumental in creating long-term shareholder value."