Tupperware Brands Corporation (“Tupperware” or the “Company”) (NYSE: TUP), a global consumer products company, today announced that Laurie Ann Goldman has been named President, Chief Executive Officer (“CEO”) and a Director of the Board to support the Company’s continued turnaround strategy and execution. Goldman replaces Miguel Fernandez as President and CEO, and Fernandez will no longer serve as a Director of Tupperware’s Board, effective immediately.
Goldman, a seasoned executive with over 30 years of leadership and brand-building experience, previously served as CEO of Avon North America, where she was instrumental in driving value creation, and as CEO of Spanx, where she transformed the company from a startup into a global category leader and household name. She was most recently the CEO of OVME Aesthetics.
“Now is the right time to bring in new leadership, and Laurie Ann is exceptionally well-suited to advance our long-term strategy and accelerate growth,” said Susan Cameron, Chair of Tupperware’s Board of Directors. “Laurie Ann is a trusted and growth-oriented leader with extensive management experience in the consumer goods industry.”
Cameron added, “Laurie Ann brings the right mix of business and brand experience and has built consumer affinity for some of the world’s most iconic brands. We are confident that her proven history of motivating global sales teams, along with her strong operational and financial capabilities, will empower our teams and accelerate our efforts to guide Tupperware to sustainable, long-term growth.”
“I am excited and energized to lead this iconic brand whose innovative products are coveted by millions around the world,” said Goldman. “This is a tribute to the entrepreneurial and inventive spirit of the wonderful teams that sell and create Tupperware and its impressive retail partners. I can’t wait to delight more consumers with the celebrated products they trust and love.”
Board Refreshment
Additionally, the Company has appointed Lori Bush, Paul Keglevic and William Transier to the Board of Directors. Bush’s direct-sales marketing experience, along with Keglevic’s and Transier’s financial and operational leadership, will provide valued support for the Company.
To enable the Board refreshment, Mark Burgess, Meg Crofton, Deborah Ellinger and James Fordyce have voluntarily stepped down from the Board after providing significant support and counsel to Tupperware. With these changes and the previously disclosed departure of Richard Goudis, the Board will be reduced to eleven directors, ten of whom will be independent.
“Today marks a significant step forward for Tupperware, and I am honored to welcome Lori, Paul and Bill to our Board of Directors,” said Cameron. “We are grateful for the insights and dedication that Mark, Meg, Deborah, and Jim brought to Tupperware to help us achieve our goals and thank them for their considerable contributions. With these new appointments, we are confident we are adding tremendous expertise to the Board that will help us accelerate our turnaround plan to meaningfully drive value creation and long-term growth.”
Financial Disclosure and Compliance Update
The Company filed its 2022 Annual Report on Form 10-K with the Securities and Exchange Commission on Friday, October 13, 2023. As previously disclosed, the Company is continuing to finalize its financial close process for the first three quarters of 2023 and will file its Quarterly Reports on Forms 10-Q for Q1, Q2 and Q3 of 2023 as promptly as possible.
Article courtesy of Metro Atlanta CEO, published October 19, 2023.