Tupperware Shares Are Trading Higher Tuesday: What's Going On?

Tupperware Brands Corp TUP shares are trading higher. The company on Tuesday announced a CEO transition and board refresh. 

What Happened: Tupperware announced that it appointed Laurie Ann Goldman as president and CEO to support the company's continued turnaround strategy. Goldman will replace Miguel Fernandez, effective immediately. 

"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.

"Laurie Ann is a trusted and growth-oriented leader with extensive management experience in the consumer goods industry."

The company also appointed Lori Bush, Paul Keglevic and William Transier to its board. 

"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," Cameron added.

Tupperware shares exploded higher earlier this year amid increased support from retail investors. The stock was trending again on Tuesday and seeing increased mentions across social platforms.

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TUP Price Action: Tupperware shares were up 12.1% at $2.26 at the time of writing, per Benzinga Pro.

Photo: 3844328 from Pixabay.