ORLANDO, Fla., Nov. 12, 2019 /PRNewswire/ -- Tupperware
Brands Corporation (NYSE: TUP) (the "Company") today announced that
its Board of Directors has appointed Christopher D. O'Leary, an independent director
of Tupperware, as Interim Chief Executive Officer, effective
immediately. This appointment follows Tricia Stitzel's decision to step down as
Chairman and CEO of Tupperware, and as a director of the Company.
Susan M. Cameron, Lead Director of
the Board, was named Non-Executive Chairman. Tupperware's Board has
commenced a search for a permanent CEO, and has engaged Heidrick
& Struggles, a leading executive search firm, to identify and
evaluate qualified candidates.
"Chris has been an incisive and thoughtful contributor to the
Board, and we are grateful that he has agreed to step into this
role at an important time in Tupperware's transformation," said Ms.
Cameron. "With more than 37 years of operational and leadership
experience at global consumer product companies, we are confident
Chris has the right depth of experience, proven track record, and
sense of urgency to be an impactful interim CEO as we continue to
work to improve the trajectory of our business."
Ms. Cameron continued, "I want to thank Tricia for her
contributions to Tupperware as CEO, including her passion and drive
in developing and launching the global growth strategy to transform
the business through digital change and consumer focus, her
successful efforts to recruit experienced global leaders, and her
strong commitment to empowering women through economic
opportunities. We wish her the very best in the future."
Mr. O'Leary said, "I approach this interim role with a true
sense of purpose. I recognize that this is a crucial time for the
Company and its ongoing transformation efforts, and am committed to
working closely with the Board and strong management team to create
a more efficient and profitable Tupperware. During my tenure as a
director, I have developed a strong understanding of Tupperware's
strengths and opportunities. Although we continue to navigate a
challenging global environment, there are further actions we can
take to improve our agility, contain costs and be a more
competitive global business. Over the longer-term, I believe firmly
in the potential of Tupperware's renowned brand, strong global
presence, and dedicated sales force to deliver sustainable
value."
"It has been an honor to lead a Company known around the world
for helping women gain the confidence they need to enrich their
lives," said Ms. Stitzel. "I have been fortunate to be part of the
Tupperware community for the past 22 years, and am confident that
Tupperware will be a beloved brand for many years to come."
About Chris O'Leary
Mr. O'Leary has served as an independent director of the
Tupperware Board since January 2019.
He is the former Executive Vice President and Chief Operating
Officer, International, for General Mills, Inc. He previously spent
16 years at PepsiCo, Inc., where he held numerous roles,
culminating in serving as Chief Executive Officer and President of
Hostess, Frito-Lay, Inc. O'Leary currently serves as a partner at
Twin Ridge Capital, a private investment firm. O'Leary previously
served on the board of Newell Rubbermaid Inc., now Newell Brands
Inc., a leading global consumer goods company with a strong
portfolio of well-known brands, and currently serves as a
Non-Executive Director of Telephone and Data Systems, Inc. and
CARE, Inc. (a global nonprofit organization). He holds a Bachelor
of Business Administration in marketing from Pace University and a Master of Business
Administration from New York
University.
About Tupperware Brands
Tupperware Brands Corporation, through an independent sales
force of 3.1 million, is the leading global marketer of
innovative, premium products across multiple brands utilizing
social selling. Product brands and categories include
design-centric 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.
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SOURCE Tupperware Brands Corporation