WASHINGTON (dpa-AFX) - Tupperware Brands Corp. (TUP) announced its Board has appointed Miguel Fernandez as President and Chief Executive Officer, effective April 6, 2020. Fernandez is the former Global President of Avon Products Inc. Chris O'Leary, Interim CEO, will continue his role on the Board.
The Board of Tupperware Brands also has appointed Richard Goudis as Executive Vice Chairman, effective March 12, 2020. He is the former Chief Executive Officer of Herbalife Nutrition Ltd. Fernandez and Goudis have been appointed to serve as directors, expanding the Board.
Separately, Tupperware Brands Corp. reported a fourth-quarter loss per share of $1.47 compared to profit of $0.35, prior year. Net sales declined to $417.2 million from $505.9 million.
Regarding COVID-19 impact, O'Leary said, 'While it is not possible at this time to estimate the full impact COVID-19 could have on the company's business, our outlook provided on February 24, 2020, reflects our best estimate given what we know at this time.'
Shares of Tupperware Brands Corp. were down 14% in pre-market trade on Thursday.
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