Former chief executive of Herbalife Nutrition, Richard Goudis, has announced his intention to resign from his positions as executive vice chair and director of Tupperware Brands. Tupperware, the food-storage container maker, confirmed that Goudis will step down after the company files its annual report in mid-October.
The decision to leave is unrelated to any disagreement between Goudis and Tupperware, its management team, or its operations and policies. Instead, it is connected to the company’s turnaround efforts that were announced in August, as well as an agreement with lenders to restructure its existing debt obligations.
Tupperware’s board of directors has been reviewing changes to its composition to ensure that it is best positioned to comply with its debt restructuring agreement and support the company’s turnaround plan. More composition changes are expected to be announced soon.
Goudis joined Tupperware in March 2020, one year after resigning from Herbalife due to controversial comments he made before becoming CEO. Herbalife stated in early 2019 that Goudis was stepping down because his comments contradicted the company’s expense-related policies, business practices, and culture. The Wall Street Journal later reported that Goudis had instructed a colleague in Hong Kong or mainland China to disregard the company’s expense account limit on entertainment spending while serving as Herbalife’s chief financial officer. The comments were recorded and subsequently obtained by federal investigators.