Tupperware
July 11, 2024
Tupperware Brands Corporation disclosed that Executive Vice President and Chief Financial Officer Mariela Matute told the company on July 5, 2024 that she would resign, effective July 31, 2024. The company said her decision did not stem from any disagreement over its operations, policies or practices.
In the same filing, Tupperware said that on July 7 the administrative agent under its credit agreement, Wells Fargo Bank, used its discretion to extend the forbearance termination date from July 7 to July 14, 2024. The agent also pushed back to July 14 the milestones for signing a definitive agreement on certain repayment transactions.
The lender forbearance agreement, first signed in February 2024 and amended several times since, requires the company to meet milestones tied to its business plan and to repaying its debt.