Tupperware Rehires Karen Sheehan as Chief Legal Officer Weeks After Her Exit

Tupperware Brands Corporation disclosed in a Form 8-K filed November 21, 2023 that its board has reappointed Karen M. Sheehan as executive vice president, chief legal officer and secretary, effective November 20, 2023.

Sheehan, 50, had held the same post from January 2017 until resigning effective September 30, 2023. Since October 1 she had served as the company's external general counsel and acting corporate secretary under a consulting agreement, which ended November 19 with her reappointment and under which she is expected to receive about 240,000 dollars. She earlier served as senior vice president, general counsel and secretary and as deputy general counsel.

Under her new terms, Sheehan will earn a base salary of 500,000 dollars, with a target bonus of 60 percent of salary for 2023 and 65 percent for 2024. Her long-term incentive target is 550,000 dollars for 2023 and 650,000 dollars for 2024. She was also reinstated in the company's 2023 cash retention program, with an award of 268,200 dollars payable in two installments, and all unvested awards she forfeited when she resigned were restored.

The reappointment came a month after Tupperware named Laurie Ann Goldman chief executive and began refreshing its board as it worked through delayed financial filings and negotiations with lenders.