Representative image showing a business meeting.
Credit: iStock Photo
Tupperware Brands' CFO Mariela Matute will step down from her role effective July 31, the company said on Thursday, months after it flagged a liquidity crunch at the food storage container maker.
Matute, who had previously served as the CFO of consumer goods and farm products company Calavo Growers, was in the role at Tupperware for a little over two years. Tupperware did not disclose who would succeed Matute.
In March, the iconic brand warned it was not certain its business could continue as a going concern and faced a liquidity crunch due to slumping demand for its products.
Founded in 1946 by chemist Earl Tupper, the company's popularity exploded in the 1950s as women of the post-war generation held "Tupperware parties" at their homes to sell food storage containers as they sought empowerment and independence.
The Covid-19 pandemic provided a boost in sales from families who sheltered at home, cooked more and produced lots of leftovers. Sales have, however, declined in recent quarters as the world re-opened.