Tupperware stock jumps on new CEO, board refreshment

Shares of Tupperware Brands (TUP) are soaring high Tuesday morning on news of Laurie Ann Goldman replacing Miguel Fernandez as CEO and president. The company also aims to undergo a board refreshment. Yahoo Finance Live takes a closer look at Tupperware Brands' stock performance and Goldman's leadership experience.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Video transcript

- Well, let's take a look at one more stock here this morning that we're tracking. Tupperware shares are jumping after the company announced Laurie Ann Goldman will be replacing current Chief Executive Miguel Fernandez after only 3 and 1/2 years in the role. Tupperware also announcing a board refreshment for current directors stepping down, and three new were added here.

This is a significant announcement coming from Tupperware here this morning. It should be fresh in the mind of many of our viewers here as over the course of this year, this is a company that's had to either think about what a delisting proceeding would look like if they were not able to get their shares back up against a certain level. They were able to do that, at least, in this near term period of time right now, trading at about $2.35.

But then, this is also a company that's also had to take certain actions in terms of their own liquidity and being able to restructure existing debt obligations, improve their overall financial position, amend certain credit obligations as well. And so, all this considered, there's going to be a large amount that is on the docket for this new executive team going forward from here.

- Yeah. They certainly-- it's a long list of things that need to be done in order to turn around this company. But this stock, and we're taking a look at a year to date chart, and it's pretty remarkable when you take a look at these moves because this is a company, like you said, it warned about going out of business back in April. Despite that, and similar to what we've seen in some of these other meme trades, generated a heck a lot of interest here from retail traders.

We talked about the fact that there was very high levels of short interest activity on the stock over the last several months. We talked about that this is a company that's really struggling just to avoid bankruptcy. And what exactly that's going to look like here going forward.

So the new CEO, in terms of what her focal point needs to be from Laurie Ann Goldman, she was previously the CEO of Avon North America, also the previous CEO of Spanx. So she has a lot of experience within the retail industry, leading very successful companies. So whether or not Tupperware is going to be able to turn around its business amid a massive uptick in competition, I don't know.

- Who inflicted the most pain to Tupperware? It's DoorDash. It's Caviar. It's all the delivery services.

- I love my Tupperware.

- I don't-- I don't need--

- Knockoffs.

- I don't need to purchase any other Tupperware after I've got all of the deliveries that I've ordered. Unfortunately, it's far to many.

- You don't save any? You finished every last lick of your orders?

- And then I cleaned them out and then, I continue to reuse them. That's what I bring to in my little bag, my little reusable Whole Foods bag, or whatever I got.

- OK. All right. Well, we'll see. But Tupperware, again, a massive rally here on the heels of that CEO change at the company.