---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-056426"
form_type: "8-K"
ticker: "VVV"
cik: "0001674910"
company_name: "VALVOLINE INC"
filed_at: "2023-03-01T23:59:59+00:00"
generated_at: "2026-06-18T18:18:26.061472+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Valvoline completes $2.65B sale of Global Products to Aramco; announces $1.6B buyback

## Summary
- Sale of Global Products to Aramco closed March 1, 2023; purchase price $2.65B cash subject to adjustments.
- Valvoline becomes pure-play automotive services company; plans $1.6B share repurchase within 18 months.
- Three executives (Muashsher, Gerrald, Ryan) resigned to join VGP; Dione Sturgeon appointed CAO.
- Valvoline retains Valvoline brand for retail services; enters supply agreement with VGP for lubricants.
- Net after-tax proceeds to be used for buyback, debt reduction, and growth investments.

## SEC filing metadata
- accession: 0001193125-23-056426
- form_type: 8-K
- ticker: VVV
- cik: 0001674910
- company_name: VALVOLINE INC
- filed_at: 2023-03-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1674910/000119312523056426/0001193125-23-056426-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1674910/000119312523056426/d430550d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-056426
- JSON: https://secwatch.observer/filing/0001193125-23-056426.json
- Plain text: https://secwatch.observer/filing/0001193125-23-056426.txt

## Key facts
- Executive change
  Jamal K. Muashsher resigned as Senior Vice President and President, Global Products at VALVOLINE INC.
  - Action: resigned
  - Role: Senior Vice President and President, Global Products
  source text: On March 1, 2023, Jamal K. Muashsher, Valvoline’s Senior Vice President and President, Global Products; Thomas A. Gerrald II, Valvoline’s Senior Vice President and Chief Supply Chain Officer; and Michael S. Ryan, Valvoline’s Chief Accounting Officer, each resigned as executive officers of Valvoline to assume roles with VGP in connection with the Transaction.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1674910/000119312523056426/0001193125-23-056426-index.htm
- Executive change
  Dione R. Sturgeon was appointed as Chief Accounting Officer and Controller at VALVOLINE INC.
  - Action: appointed
  - Role: Chief Accounting Officer and Controller
  source text: Effective March 1, 2023, the Board of Directors of Valvoline appointed Dione R. Sturgeon, age 45, as Chief Accounting Officer and Controller of Valvoline.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1674910/000119312523056426/0001193125-23-056426-index.htm
- Executive change
  Michael S. Ryan resigned as Chief Accounting Officer at VALVOLINE INC.
  - Action: resigned
  - Role: Chief Accounting Officer
  source text: On March 1, 2023, Jamal K. Muashsher, Valvoline’s Senior Vice President and President, Global Products; Thomas A. Gerrald II, Valvoline’s Senior Vice President and Chief Supply Chain Officer; and Michael S. Ryan, Valvoline’s Chief Accounting Officer, each resigned as executive officers of Valvoline to assume roles with VGP in connection with the Transaction.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1674910/000119312523056426/0001193125-23-056426-index.htm
- Executive change
  Thomas A. Gerrald II resigned as Senior Vice President and Chief Supply Chain Officer at VALVOLINE INC.
  - Action: resigned
  - Role: Senior Vice President and Chief Supply Chain Officer
  source text: On March 1, 2023, Jamal K. Muashsher, Valvoline’s Senior Vice President and President, Global Products; Thomas A. Gerrald II, Valvoline’s Senior Vice President and Chief Supply Chain Officer; and Michael S. Ryan, Valvoline’s Chief Accounting Officer, each resigned as executive officers of Valvoline to assume roles with VGP in connection with the Transaction.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1674910/000119312523056426/0001193125-23-056426-index.htm
- M&A Transactions
  VALVOLINE INC completed a disposition involving Gateway Velocity Holding Corp. for $2.65 billion in cash (closed 2023-03-01).
  - Action: disposition
  - Counterparty: Gateway Velocity Holding Corp.
  - Consideration: $2.65 billion in cash
  - Closing: 2023-03-01
  source text: On March 1, 2023, Valvoline completed the Transaction. The purchase price is $2.65 billion in cash, subject to certain customary adjustments as set forth in the Purchase Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1674910/000119312523056426/0001193125-23-056426-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.