ORLANDO, Fla., March 12, 2020 /PRNewswire/ -- Tupperware
Brands Corporation (NYSE: TUP) today announced that its Board of
Directors has appointed Miguel
Fernandez as President and Chief Executive Officer,
effective April 6, 2020. Mr.
Fernandez is the former Global President of Avon Products Inc.
("Avon"). The Board also has appointed Richard ("Rich") Goudis as
Executive Vice Chairman, effective March 12,
2020. Mr. Goudis is the former Chief Executive Officer of
Herbalife Nutrition Ltd. ("Herbalife Nutrition").
Susan Cameron, Non-Executive
Chairman of the Board, said, "The Board is pleased to add the
combined talent and experience of Miguel and Rich to Tupperware at
such a pivotal time. We are confident that these proven leaders
bring skills essential to Tupperware's business – a thorough
understanding of the direct selling model, a belief in its
relevance and growth potential, and proven track records of
executing operational transformations and generating value. They
have a ten-year history of working collaboratively together, and
that gives us great confidence that they can rapidly create a more
efficient and profitable company, while leveraging the power of our
brand and our global presence to ensure Tupperware is competitive,
relevant and profitable well into the future."
The Board believes the structure of having two experienced
executives with a history of leading growth and business
transformation together will have a strong impact as it ensures
management is best positioned to address the Company's pressing
financial and operational needs, develop and implement new and
urgent transformation efforts, and reinvigorate the brand, its
direct selling model, and independent sales force. As CEO, Mr.
Fernandez's focus will be on stabilizing the core business
operations with a mandate to return the business to growth. As
Executive Vice Chairman, Mr. Goudis will be responsible for leading
the Company's future business strategy and go-to-market
opportunities, and maximizing shareholder value.
Mr. Fernandez and Mr. Goudis have been appointed to serve as
directors of the Company, expanding the Board to 12 members. They
will each report directly to the Board. Upon the effective date of Mr. Fernandez's
appointment, Chris O'Leary, who has been serving
as Interim CEO, will continue his role on the Board, and
return as a member of the Audit, Finance and Corporate
Responsibility Committee.
Mr. Fernandez brings over 20 years of global direct-selling
industry experience and a strong record of implementing positive
global transformations. He joins
Tupperware after more than 2 years
as Global President at Avon. During his time at Avon, Mr. Fernandez
led the company's transformation strategy, helping to modernize and
optimize Avon's digital functions and developing a new omni-channel
approach in order to drive growth and enhance revenue. Mr.
Fernandez previously spent a decade in senior roles at Herbalife
Nutrition, where he was
instrumental in transforming their Herbalife Mexico business to be one of
the largest direct-selling companies in Mexico, and then went on to reestablish growth
in North America by leading the
Herbalife Nutrition Americas
team.
"Tupperware is a pioneer of the direct selling model, and I am
honored to lead the team that will take the beloved brand to the
next level," said Mr. Fernandez. "I am confident that with this
management team, we can modernize the Tupperware model to give our
sales force the most innovative products on the market, the best
technologies to access consumers and the best operations to support
their businesses. These are changes that need to be made to improve
sales trends and create financial flexibility in both the
short-term and the long-term."
Mr. Goudis brings deep operating and capital markets experience
and a strong track record of shareholder value creation to his role
as Executive Vice Chairman. He is an established leader in the
direct-selling industry, having served as CEO, Chief Operating
Officer, and Chief Financial Officer of Herbalife Nutrition during a 15 year tenure. In his
role as CEO, Mr. Goudis focused on advancing product innovation,
implementing digital strategies that improved distributor
productivity and improved retention of the customer base, and the education and
training of its independent distributor network.
"I look forward to contributing my financial expertise and
extensive industry knowledge to Tupperware's global markets and its
leadership team at this critical time," Mr. Goudis said. "Given the
consumer trend towards environmentally-friendly reusable products,
I believe there is compelling opportunity to capitalize on that
through continued product innovation, enhanced technology and tools
to make our sales force more
effective, and operational improvements across the company. I am
eager to quickly get to work with Miguel and the senior leadership
team to pursue these objectives."
About Miguel Fernandez
Mr. Fernandez most recently served as Global President at Avon
Products Inc., where he was responsible for global commercial
operations. Previously, he spent nearly ten years at Herbalife
Nutrition Ltd., where he served as
Executive Vice President and Managing Director for the Americas and
Worldwide Member Operations. Previously at Herbalife Nutrition, he served as Senior Vice
President and Managing Director of Mexico, and Vice President
Finance & Distributor Operations. Earlier in his career, Mr.
Fernandez was Chief Financial Officer at OCC Mundial and Business
Controller for Microsoft in Mexico. He holds a Bachelor of
Science in industrial engineering, with honors, from
the Monterrey Institute of Technology in Mexico and
a Master of Business Administration from Darden School of
Business, University of Virginia.
About Rich Goudis
Mr.
Goudis most recently served as Chief Executive Officer of Herbalife
Nutrition Ltd., where he was
responsible for driving product innovation and sales technology,
attracting and retaining new customers, and improving customer
retention. Previously at Herbalife Nutrition, he served for seven years as COO,
in which he was responsible for Worldwide Manufacturing Operations,
Product Development, Quality, Supply Chain, Human Resources,
Information Technology, Security and regional Finance and
operations functions. Prior to his role as COO, Mr. Goudis served
as the company's chief financial officer for six years, during
which time he helped to take the company public. Mr. Goudis holds a
Bachelor of Business Administration in Accounting from the
University of Massachusetts, and a
Masters of Business Administration from Nova Southeastern
University.
About Tupperware Brands Corporation
Tupperware Brands
Corporation, through an independent sales force of 2.9 million, is
a global manufacturer and marketer of innovative, premium products
through social selling. Product brands span several categories
including design-centric food preparation, storage and serving
solutions for the kitchen and home through the Tupperware brand and
beauty and personal care products through the Avroy Shlain, Fuller
Cosmetics, NaturCare, Nutrimetics and Nuvo brands. For more
information, visit tupperwarebrands.com.
Safe Harbor Statement
Statements contained in this
release that are not historical fact and use predictive words such
as "confident", "believes", "will", "ensures", and similar words
are forward-looking statements. Such forward-looking
statements involve risks and uncertainties detailed in our recent
periodic reports as filed in accordance with the Securities and
Exchange Act of 1934. These risks and uncertainties may cause
actual results to differ materially from the statements made in
this release.
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SOURCE Tupperware Brands Corporation